Goldman Sachs Trust



Shares		Description	Value
	Common Stocks – 91.6%
	Brazil – 9.9%
	94,200	Banco Bradesco SA ADR (Banks)	$ 1,731,396
	47,600	BR Malls Participacoes SA (Real Estate)	616,229
	33,300	CIA de Saneamento Basico do Estado de Sao Paulo ADR (Utilities)*	1,482,183
	286,600	Cielo SA (Software & Services)	8,112,811
	152,800	Cosan SA Industria e Comercio (Energy)	3,606,398
	281,100	Duratex SA (Materials)	1,950,770
	133,150	Embraer SA ADR (Capital Goods)^(a)	4,389,956
	95,400	Ez Tec Empreendimentos e Participacoes SA (Consumer Durables & Apparel)	1,240,796
	1,108,700	Gerdau SA ADR (Materials)	9,789,821
	128,100	Grendene SA (Consumer Durables & Apparel)	1,127,030
	117,100	Grupo BTG Pactual (Diversified Financials)	2,013,101
	110,500	Helbor Empreendimentos SA (Consumer Durables & Apparel)	643,684
	53,000	M. Dias Branco SA (Food, Beverage & Tobacco)	2,102,860
	498,100	Minerva SA (Food, Beverage & Tobacco)	3,251,714
	366,800	MRV Engenharia e Participacoes SA (Consumer Durables & Apparel)	2,099,842
	61,400	Multiplus SA (Commercial & Professional Services)	1,321,755
	35,000	Porto Seguro SA (Insurance)	420,067
	30,400	Sao Martinho SA (Food, Beverage & Tobacco)	435,082
	41,800	Sul America SA (Insurance)	390,848
	682,800	Vale SA ADR (Materials)	13,772,076

			60,498,419

	Chile – 0.3%
	28,954	Administradora de Fondos de Pensiones Provida SA (Diversified Financials)	213,177
	11,261	Banco de Credito e Inversiones (Banks)	879,424
	84,574	S.A.C.I. Falabella (Retailing)	981,768

			2,074,369

	China – 12.3%
	2,432,000	Agile Property Holdings Ltd. (Real Estate)	3,450,575
	1,596,000	Air China Ltd. Class H (Transportation)	1,368,740
	30,225,000	Bank of China Ltd. Class H (Banks)	14,892,315



Shares		Description	Value
	Common Stocks – (continued)
	China – (continued)
	6,061,000	China Citic Bank Corp. Ltd. Class H (Banks)	$ 4,134,883
	4,182,000	China Communications Construction Co. Ltd. Class H (Capital Goods)	4,251,510
	21,676,000	China Construction Bank Corp. Class H (Banks)	18,698,399
	1,721,000	China Merchants Bank Co. Ltd. Class H (Banks)	4,125,458
	1,049,500	China Minsheng Banking Corp. Ltd. Class H (Banks)	1,506,890
	1,143,500	China Railway Construction Corp. Ltd. Class H (Capital Goods)	1,236,364
	3,733,000	CNOOC Ltd. (Energy)	7,682,083
	789,000	Evergrande Real Estate Group Ltd. (Real Estate)	416,908
	2,073,500	Great Wall Motor Co. Ltd. Class H (Automobiles & Components)	8,429,919
	2,082,800	Guangzhou R&F Properties Co. Ltd. Class H (Real Estate)	3,780,337
	1,920,000	Sino-Ocean Land Holdings Ltd. Class H (Real Estate)	1,533,659

			75,508,040

	Czech Republic – 0.1%
	19,747	CEZ AS (Utilities)	640,394

	Egypt – 0.1%
	148,080	Telecom Egypt Co. (Telecommunication Services)	319,746

	Hong Kong – 6.3%
	234,000	China Everbright Ltd. (Diversified Financials)	441,030
	761,500	China Mobile Ltd. (Telecommunication Services)	8,326,395
	365,000	China Overseas Grand Oceans Group Ltd. (Real Estate)	507,470
	3,126,000	China Overseas Land & Investment Ltd. (Real Estate)	9,695,332
	22,600	Focus Media Holding Ltd. ADR (Media)^(a)	571,554
	1,554,000	Guangdong Investment Ltd. (Utilities)	1,290,055
	2,854,000	Kunlun Energy Co. Ltd. (Energy)	5,931,554
	2,476,500	KWG Property Holding Ltd. (Real Estate)	1,879,317
	354,000	Lee & Man Paper Manufacturing Ltd. (Materials)	238,917
	2,340,500	Shimao Property Holdings Ltd. (Real Estate)	5,175,474
	13,204,000	Yuexiu Property Co. Ltd. (Real Estate)	4,718,538

			38,775,636



Shares		Description	Value
	Common Stocks – (continued)
	India – 9.2%
	14,650	Asian Paints Ltd. (Materials)	$ 1,239,623
	12,076	Bajaj Auto Ltd. (Automobiles & Components)	460,416
	40,035	Bajaj Finserv Ltd. (Insurance)	640,583
	58,196	Bajaj Holdings and Investment Ltd. (Diversified Financials)	1,059,084
	12,179	Bank of Baroda (Banks)	198,722
	426,727	Cairn India Ltd. (Energy)	2,593,829
	14,393	HDFC Bank Ltd. ADR (Banks)	578,886
	177,998	Hindustan Zinc Ltd. (Materials)	429,214
	569,917	Indiabulls Financial Services Ltd. (Diversified Financials)	3,502,515
	634,185	Indian Bank (Banks)	2,408,314
	291,135	Mahindra & Mahindra Ltd. (Automobiles & Components)	4,869,273
	124,550	Power Finance Corp. Ltd. (Diversified Financials)	493,871
	459,637	Reliance Capital Ltd. (Diversified Financials)	4,104,999
	726,004	Reliance Industries Ltd. (Energy)	12,103,230
	223,377	Rural Electrification Corp. Ltd. (Diversified Financials)	1,013,180
	419,831	Satyam Computer Services Ltd. (Software & Services)*	942,811
	3,179	Shree Cement Ltd. (Materials)	266,668
	25,713	Shriram Transport Finance Co. Ltd. (Diversified Financials)	381,693
	109,338	Sterlite Industries India Ltd. (Materials)	233,285
	115,763	Tata Consultancy Services Ltd. (Software & Services)	2,926,647
	513,566	Tata Global Beverages Ltd. (Food, Beverage & Tobacco)	1,439,762
	1,582,798	Tata Motors Ltd. (Automobiles & Components)	8,806,100
	71,473	Ultratech Cement Ltd. (Materials)	2,556,414
	50,691	Wockhardt Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)*	1,663,203
	357,274	Zee Entertainment Enterprises Ltd. (Media)	1,546,270

			56,458,592

	Indonesia – 1.1%
	2,064,000	PT Bank Negara Indonesia (Persero) Tbk (Banks)	831,999
	1,310,500	PT Bank Rakyat Indonesia (Persero) Tbk (Banks)	1,070,252
	1,305,000	PT Indocement Tunggal Prakarsa Tbk (Materials)	2,914,399
	314,500	PT Indofood CBP Sukses Makmur Tbk (Food, Beverage & Tobacco)	258,643



Shares		Description	Value
	Common Stocks – (continued)
	Indonesia – (continued)
	2,911,000	PT Perusahaan Gas Negara Persero Tbk (Utilities)	$ 1,397,514

			6,472,807

	Luxembourg – 0.1%
	152,165	Brait SE (Diversified Financials)*	543,830

	Malaysia – 2.3%
	3,658,500	AMMB Holdings Berhad (Diversified Financials)	7,488,915
	2,313,000	Genting Malaysia Berhad (Consumer Services)	2,732,590
	640,200	IHH Healthcare Berhad (Health Care Equipment & Services)*	678,389
	268,300	KLCC Property Holdings Berhad (Real Estate)	543,163
	409,500	Kulim Malaysia Berhad (Food, Beverage & Tobacco)	474,477
	885,900	Telekom Malaysia Berhad (Telecommunication Services)	1,582,474
	407,800	Top Glove Corp. Berhad (Health Care Equipment & Services)	686,448

			14,186,456

	Mexico – 2.6%
	135,335	America Movil SAB de CV Series L ADR (Telecommunication Services)	3,405,029
	320,820	Cemex SAB de CV ADR (Materials)*	3,480,897
	74,900	Controladora Comercial Mexicana SA de CV (Food & Staples Retailing)	272,452
	20,470	Grupo Aeroportuario del Pacifico SAB de CV ADR (Transportation)	1,274,053
	38,130	Grupo Aeroportuario del Sureste SAB de CV ADR (Transportation)	4,553,103
	129,900	Grupo Carso SAB de CV Series A-1 (Capital Goods)	630,671
	78,100	Grupo Mexico SAB de CV Series B (Materials)	291,034
	125,500	Grupo Modelo SAB de CV Series C (Food, Beverage & Tobacco)	1,067,894
	34,720	Grupo Televisa SAB ADR (Media)	972,507
	131,200	Inmuebles Carso SAB de CV Series B-1 (Diversified Financials)*	113,507

			16,061,147



Shares		Description	Value
	Common Stocks – (continued)
	Philippines – 0.3%
	433,380	Metropolitan Bank & Trust (Banks)	$ 1,123,081
	429,840	Universal Robina Corp. (Food, Beverage & Tobacco)	923,387

			2,046,468

	Poland – 2.1%
	17,315	Eurocash SA (Food & Staples Retailing)	281,750
	150,663	KGHM Polska Miedz SA (Materials)	9,219,269
	207,028	PGE SA (Utilities)	1,141,795
	50,221	Polski Koncern Naftowy Orlen SA (Energy)*	795,075
	718,818	Synthos SA (Materials)	1,220,029

			12,657,918

	Russia – 7.1%
	129,949	OAO Gazprom Neft ADR (Energy)^(a)	3,155,215
	241,217	OAO Lukoil ADR (Energy)	16,265,139
	76,914	OAO Tatneft ADR (Energy)	3,542,629
	129,720	OJSC MMC Norilsk Nickel ADR (Materials)	2,584,190
	216,600	OJSC Mobile Telesystems ADR (Telecommunication Services)	4,258,356
	70,034	Phosagro OAO GDR (Materials)	969,971
	3,419,780	Sberbank of Russia (Banks)	12,473,043

			43,248,543

	South Africa – 5.2%
	649,846	AVI Ltd. (Food, Beverage & Tobacco)	3,968,857
	2,743,698	FirstRand Ltd. (Diversified Financials)	9,892,145
	42,679	Investec Ltd. (Diversified Financials)	308,387
	32,468	Kumba Iron Ore Ltd. (Materials)	2,186,433
	91,906	Liberty Holdings Ltd. (Insurance)	1,183,005
	74,251	Mondi Ltd. (Materials)	883,002
	270,061	Pick’n Pay Holdings Ltd. (Food & Staples Retailing)	591,149
	577,076	Redefine Properties Ltd. (Real Estate)	618,691
	243,719	RMB Holdings Ltd. (Diversified Financials)	1,168,904
	640,877	Super Group Ltd. (Retailing)*	1,288,348



Shares		Description	Value
	Common Stocks – (continued)
	South Africa – (continued)
	713,933	Vodacom Group Ltd. (Telecommunication Services)	$ 9,930,162

			32,019,083

	South Korea – 12.1%
	248	ABLE C&C (Household & Personal Products)	17,345
	2,591	AmorePacific Group (Household & Personal Products)	980,163
	72,270	Grand Korea Leisure Co. Ltd. (Consumer Services)	2,040,386
	6,638	GS Holdings (Energy)	432,960
	36,990	Hanwha Life Insurance Co. Ltd. (Insurance)	251,886
	19,540	Hyundai Marine & Fire Insurance Co. Ltd. (Insurance)	601,070
	45,392	Hyundai Motor Co. (Automobiles & Components)	8,547,837
	1,957	Hyundai Wia Corp. (Automobiles & Components)	264,131
	2,808	KCC Corp. (Capital Goods)	750,305
	130,557	Kia Motors Corp. (Automobiles & Components)	6,201,354
	16,710	Korea Kolmar Holdings Co. Ltd. (Household & Personal Products)	206,471
	10,443	Korea Zinc Co. Ltd. (Materials)	3,682,259
	21,841	LG Corp. (Capital Goods)	1,286,663
	166,710	LG Display Co. Ltd. (Technology Hardware & Equipment)*	4,476,738
	28,040	LG International Corp. (Capital Goods)	1,158,515
	93,380	Macquarie Korea Infrastructure Fund (Diversified Financials)	570,255
	8,754	Modetour Network, Inc. (Consumer Services)	253,436
	33,353	Paradise Co. Ltd. (Consumer Services)	588,232
	19,209	Samsung Electronics Co. Ltd. (Semiconductors & Semiconductor Equipment)	25,556,306
	64,952	Samsung Life Insurance Co. Ltd. (Insurance)	6,263,753
	16,714	Samyang Holdings Corp. (Food, Beverage & Tobacco)	1,040,505
	14,044	SK Holdings Co. Ltd. (Capital Goods)	2,219,469
	5,123	SK Innovation Co. Ltd. (Energy)	807,325
	54,061	S-Oil Corp. (Energy)	4,863,139
	54,500	Woori Finance Holdings Co. Ltd. (Banks)	640,795

			73,701,298



Shares		Description	Value
	Common Stocks – (continued)
	Taiwan – 11.6%
	2,040,000	Asia Cement Corp. (Materials)	$ 2,596,764
	471,880	Asustek Computer, Inc. (Technology Hardware & Equipment)	5,408,005
	772,000	Chipbond Technology Corp. (Semiconductors & Semiconductor Equipment)	1,588,412
	57,000	Chong Hong Construction Co. (Real Estate)	189,441
	499,000	Grape King Industrial Co. (Household & Personal Products)	1,277,612
	4,092,000	Hon Hai Precision Industry Co. Ltd. (Technology Hardware & Equipment)	11,715,463
	812,000	Huang Hsiang Construction Co. (Real Estate)	2,089,900
	313,000	Kindom Construction Co. (Real Estate)	257,281
	2,808,505	Mega Financial Holding Co. Ltd. (Banks)	2,300,166
	424,000	Novatek Microelectronics Corp. Ltd. (Semiconductors & Semiconductor Equipment)	1,687,007
	5,168,000	Pou Chen Corp. (Consumer Durables & Apparel)	5,164,253
	1,915,000	Radiant Opto-Electronics Corp. (Semiconductors & Semiconductor Equipment)	7,434,056
	494,000	Systex Corp. (Software & Services)*	601,296
	3,242,000	Taishin Financial Holding Co. Ltd. (Banks)	1,284,871
	979,600	Taiwan Semiconductor Manufacturing Co. Ltd. ADR (Semiconductors & Semiconductor Equipment)	17,378,104
	5,089,190	Uni-President Enterprises Corp. (Food, Beverage & Tobacco)	8,939,945
	1,373,000	Vanguard International Semiconductor Corp. (Semiconductors & Semiconductor Equipment)	997,821

			70,910,397

	Thailand – 2.9%
	382,700	Advanced Info Service PCL (Registered) (Telecommunication Services)	2,697,847
	268,600	Airports of Thailand PCL (Transportation)	949,974
	650,600	Bangkok Bank PCL (Banks)	4,797,991
	310,000	Supalai PCL (Real Estate)	199,550
	3,399,400	Thai Oil PCL (Energy)	8,406,993



Shares		Description	Value
	Common Stocks – (continued)
	Thailand – (continued)
	217,800	Tisco Financial Group PCL (Banks)	$ 383,451

			17,435,806

	Turkey – 6.0%
	233,823	Dogus Otomotiv Servis ve Ticaret AS (Retailing)	1,192,576
	111,946	Tofas Turk Otomobil Fabrikasi AS (Automobiles & Components)	675,420
	19,340	Tupras Turkiye Petrol Rafinerileri AS (Energy)	533,478
	2,487,580	Turk Hava Yollari (Transportation)*	9,240,934
	36,039	Turkiye Halk Bankasi AS (Banks)	355,846
	3,380,285	Turkiye Is Bankasi Class C (Banks)	12,490,906
	1,408,192	Turkiye Sinai Kalkinma Bankasi AS (Banks)	1,819,033
	3,022,189	Turkiye Vakiflar Bankasi T.A.O Class D (Banks)	8,831,334
	249,251	Ulker Biskuvi Sanayi AS (Food, Beverage & Tobacco)	1,417,205

			36,556,732

	TOTAL COMMON STOCKS		$ 560,115,681


	Preferred Stocks – 5.8%
	Brazil – 5.2%
	225,500	Companhia de Bebidas das Americas Preference Shares ADR (Food, Beverage & Tobacco)^(a)	$ 10,612,030
	1,284,100	Itausa – Investimentos Itau SA Preference Shares (Banks)	6,499,976
	786,600	Klabin SA Preference Shares (Materials)	5,391,865
	252,700	Petroleo Brasileiro SA Preference Shares (Energy)	2,286,111
	359,100	Vale SA Preference Shares (Materials)	6,958,918

			31,748,900

	Russia – 0.2%
	1,009,484	OJSC Surgutneftegas Preference Shares (Energy)	767,541
	87,900	Sberbank of Russia Preference Shares (Banks)	228,496

			996,037



Shares		Description	Value
	Preferred Stocks – (continued)
	South Korea – 0.4%
	4,144	Hyundai Motor Co. Preference Shares (Automobiles & Components)	$ 284,310
	3,147	Samsung Electronics Co. Ltd. Preference Shares (Semiconductors & Semiconductor Equipment)	2,452,263

			2,736,573

	TOTAL PREFERRED STOCKS		$ 35,481,510


	Exchange Traded Fund – 2.0%
	Other – 2.0%
	281,513	Vanguard FTSE Emerging Markets	$ 12,544,219

	TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE		$608,141,410


Shares		Rate	Value
	Securities Lending Reinvestment Vehicle^(b)(c)– 0.6%
	Goldman Sachs Financial Square Money Market Fund – FST Shares
	3,501,725	0.115%	$ 3,501,725

	TOTAL INVESTMENTS – 100.0%		$611,643,135

	OTHER ASSETS IN EXCESS OF LIABILITIES – 0.0%		121,826

	NET ASSETS – 100.0%		$611,764,961



The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

*		Non-income producing security.

(a)		All or a portion of security is on loan.

(b)		Variable rate security. Interest rate disclosed is that which is in effect at January 31, 2013.

(c)		Represents an affiliated issuer.



Investment Abbreviations:
ADR		— American Depositary Receipt
GDR		— Global Depositary Receipt


For information on the mutual funds, please call our toll-free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.goldmansachsfunds.com.

TAX INFORMATION — At January 31, 2013, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Additional information regarding the Fund is available in the Fund’s most recent Annual and Semi-Annual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).


Shares		Description	Value
	Common Stocks – 97.1%
	Australia – 3.9%
	553,391	Adelaide Brighton Ltd. (Materials)	$ 1,956,506
	227,362	Arrium Ltd. (Materials)	227,133
	80,295	Australia & New Zealand Banking Group Ltd. (Banks)	2,230,098
	635,314	AWE Ltd. (Energy)*	845,823
	51,138	BC Iron Ltd. (Materials)^(a)	190,356
	120,036	BHP Billiton Ltd. (Materials)	4,721,259
	195,126	BlueScope Steel Ltd. (Materials)*	689,737
	113,443	Cabcharge Australia Ltd. (Commercial & Professional Services)	581,618
	65,041	Caltex Australia Ltd. (Energy)	1,319,751
	96,657	Coca-Cola Amatil Ltd. (Food, Beverage & Tobacco)	1,394,994
	61,131	Commonwealth Bank of Australia (Banks)	4,112,555
	58,663	Fortescue Metals Group Ltd. (Materials)	287,747
	90,545	GUD Holdings Ltd. (Consumer Durables & Apparel)	788,073
	108,521	Insurance Australia Group Ltd. (Insurance)	567,805
	6,442	National Australia Bank Ltd. (Banks)	184,079
	132,498	NIB Holdings Ltd. (Insurance)	302,550
	90,297	Ramsay Health Care Ltd. (Health Care Equipment & Services)	2,781,604
	5,207	Rio Tinto Ltd. (Materials)	361,634
	106,848	Skilled Group Ltd. (Commercial & Professional Services)	309,861
	68,513	Tabcorp Holdings Ltd. (Consumer Services)	218,054
	15,594	Telstra Corp. Ltd. (Telecommunication Services)	74,851
	23,993	Treasury Wine Estates Ltd. (Food, Beverage & Tobacco)	119,078
	42,732	Wesfarmers Ltd. (Food & Staples Retailing)	1,676,946
	94,374	Westfield Group (REIT)	1,101,339
	475,332	Westfield Retail Trust (REIT)	1,591,855
	277,561	Westpac Banking Corp. (Banks)	8,119,995
	32,794	Woodside Petroleum Ltd. (Energy)	1,214,769

			37,970,070

	Austria – 0.7%
	89,486	Erste Group Bank AG (Banks)^*	3,011,111
	26,803	Oesterreichische Post AG (Transportation)	1,172,833
	53,879	Raiffeisen Bank International AG (Banks)^(a)	2,419,792

			6,603,736


Shares		Description	Value
	Common Stocks – (continued)
	Belgium – 1.7%
	100,162	Anheuser-Busch InBev NV (Food, Beverage & Tobacco)	$ 8,813,113
	11,930	Galapagos NV (Pharmaceuticals, Biotechnology & Life Sciences)*	287,000
	21,697	Groupe Bruxelles Lambert SA (Diversified Financials)	1,810,855
	80,857	KBC Groep NV (Banks)	3,183,057
	12,297	Solvay SA (Materials)	1,932,030

			16,026,055

	Bermuda – 0.4%
	310,493	Catlin Group Ltd. (Insurance)	2,575,620
	157,811	Hiscox Ltd. (Insurance)	1,185,910

			3,761,530

	Denmark – 0.7%
	6,693	Carlsberg A/S Class B (Food, Beverage & Tobacco)	715,941
	9,333	Novo Nordisk A/S Class B (Pharmaceuticals, Biotechnology & Life Sciences)	1,718,132
	96,743	Pandora A/S (Consumer Durables & Apparel)^(a)	2,390,569
	4,688	Royal UNIBREW A/S (Food, Beverage & Tobacco)	435,203
	8,378	Topdanmark A/S (Insurance)*	1,837,418

			7,097,263

	Finland – 0.3%
	70,017	Metso OYJ (Capital Goods)	3,130,842

	France – 10.1%
	60,410	Accor SA (Consumer Services)	2,358,102
	61,288	AXA SA (Insurance)	1,134,744
	29,983	BNP Paribas SA (Banks)	1,881,264
	4,318	Christian Dior SA (Consumer Durables & Apparel)	754,035
	82,334	Compagnie Generale des Etablissements Michelin Class B (Automobiles & Components)	7,657,352
	161,096	Danone SA (Food, Beverage & Tobacco)	11,164,293
	4,807	Euler Hermes SA (Insurance)	428,773
	33,134	Fonciere Des Regions (REIT)	2,797,483
	2,620	Gecina SA (REIT)	296,760
	10,054	Hermes International (Consumer Durables & Apparel)	3,267,084
	21,966	JCDecaux SA (Media)	613,537
	271,718	Legrand SA (Capital Goods)	12,327,067
	17,848	M6 Metropole Television SA (Media)	298,705
	129,688	Natixis (Banks)	513,877


Shares		Description	Value
	Common Stocks – (continued)
	France – (continued)
	6,208	Nexity SA (Consumer Durables & Apparel)	$ 189,469
	159,708	Sanofi (Pharmaceuticals, Biotechnology & Life Sciences)	15,569,318
	24,635	Schneider Electric SA (Capital Goods)	1,874,175
	297,034	Total SA (Energy)	16,096,954
	2,528	Unibail-Rodamco SE (REIT)	597,042
	331,768	Vinci SA (Capital Goods)	16,888,194

			96,708,228

	Germany – 12.3%
	90,762	Allianz SE (Registered) (Insurance)	12,986,874
	50,998	Axel Springer AG (Media)	2,382,572
	205,747	BASF SE (Materials)	20,838,178
	160,873	Bayer AG (Registered) (Pharmaceuticals, Biotechnology & Life Sciences)	15,875,384
	47,585	Bayerische Motoren Werke AG (Automobiles & Components)	4,792,688
	2,228	Bijou Brigitte AG (Consumer Durables & Apparel)	220,838
	865,675	Commerzbank AG (Banks)*	1,895,466
	45,417	Continental AG (Automobiles & Components)	5,330,167
	46,461	Daimler AG (Registered) (Automobiles & Components)	2,704,130
	326,556	Deutsche Bank AG (Registered) (Diversified Financials)	16,889,281
	108,007	Deutsche Boerse AG (Diversified Financials)	7,111,968
	113,172	Deutsche Post AG (Registered) (Transportation)	2,657,491
	221,646	Deutsche Telekom AG (Registered) (Telecommunication Services)	2,722,962
	24,612	E.ON SE (Utilities)	427,959
	3,298	Fielmann AG (Retailing)	336,718
	9,158	Henkel AG & Co. KGaA (Household & Personal Products)	679,333
	23,552	Leoni AG (Automobiles & Components)	1,019,112
	21,177	Merck KGaA (Pharmaceuticals, Biotechnology & Life Sciences)	2,944,288
	11,025	Metro AG
		(Food & Staples Retailing)	340,485
	4,965	Pfeiffer Vacuum Technology AG (Capital Goods)	618,599
	46,219	Rheinmetall AG (Capital Goods)	2,460,333
	117,005	SAP AG (Software & Services)	9,595,258


Shares		Description	Value
	Common Stocks – (continued)
	Germany – (continued)
	19,509	Siemens AG (Registered) (Capital Goods)	$ 2,137,474
	28,789	SMA Solar Technology AG (Semiconductors & Semiconductor Equipment)^(a)	741,708

			117,709,266

	Hong Kong – 1.7%
	769,000	AIA Group Ltd. (Insurance)	3,059,173
	88,000	BOC Hong Kong Holdings Ltd. (Banks)	303,662
	177,500	CLP Holdings Ltd. (Utilities)	1,508,283
	12,600	Dairy Farm International Holdings Ltd. (Food & Staples Retailing)	153,720
	128,000	First Pacific Co. Ltd. (Diversified Financials)	164,860
	29,100	Hang Seng Bank Ltd. (Banks)	476,520
	111,000	Hutchison Whampoa Ltd. (Capital Goods)	1,240,656
	6,000	Jardine Strategic Holdings Ltd. (Capital Goods)	229,543
	90,000	KWG Property Holding Ltd. (Real Estate)	68,298
	1,171,200	MGM China Holdings Ltd. (Consumer Services)	2,769,525
	45,000	Shimao Property Holdings Ltd. (Real Estate)	99,507
	122,000	Swire Pacific Ltd. Class A (Real Estate)	1,565,912
	85,000	Swire Pacific Ltd. Class B (Real Estate)	207,413
	91,358	The Link REIT (REIT)	474,966
	686,000	Wheelock & Co. Ltd. (Real Estate)	3,865,622

			16,187,660

	Ireland – 0.2%
	489,992	Beazley PLC (Insurance)	1,425,253
	40,255	Elan Corp. PLC ADR (Pharmaceuticals, Biotechnology & Life Sciences)*	423,080

			1,848,333

	Israel – 0.5%
	126,341	Bank Hapoalim B.M. (Banks)*	532,647
	29,855	Bezeq Israeli Telecommunication Corp. Ltd. (Telecommunication Services)	34,988
	924	Delek Group Ltd. (Energy)	228,247
	42,755	Israel Chemicals Ltd. (Materials)	567,858
	3,649	Mellanox Technologies Ltd. (Semiconductors & Semiconductor Equipment)*	185,331


Shares		Description	Value
	Common Stocks – (continued)
	Israel – (continued)
	47,520	Mizrahi Tefahot Bank Ltd. (Banks)*	$ 503,173
	305	NICE Systems Ltd. ADR (Software & Services)*	11,251
	80,561	Teva Pharmaceutical Industries Ltd. ADR (Pharmaceuticals, Biotechnology & Life Sciences)	3,060,512

			5,124,007

	Italy – 5.4%
	787,819	Banca Carige SpA (Banks)^(a)	882,435
	42,729	Banca Generali SpA (Diversified Financials)	818,993
	2,062,652	Banca Monte dei Paschi di Siena SpA (Banks)*	689,009
	650,317	Banca Popolare dell’Emilia Romagna Scrl (Banks)	5,744,403
	58,636	Banca Popolare di Sondrio Scarl (Banks)	422,380
	48,117	Credito Emiliano SpA (Banks)	287,845
	2,519,574	Enel SpA (Utilities)	10,985,774
	643,779	Eni SpA (Energy)	16,080,018
	95,184	Geox SpA (Consumer Durables & Apparel)^(a)	334,479
	871,751	Impregilo SpA (Capital Goods)	4,521,690
	2,034,466	Intesa Sanpaolo SpA (Banks)	4,146,953
	100,721	Lottomatica Group SpA (Consumer Services)	2,490,266
	353,434	Saras SpA (Energy)*	476,004
	581,648	UniCredit SpA (Banks)*	3,754,632
	103,072	Unione di Banche Italiane ScpA (Banks)	537,962

			52,172,843

	Japan – 17.0%
	20,800	AEON Credit Service Co. Ltd. (Diversified Financials)	431,555
	98,600	Aisin Seiki Co. Ltd. (Automobiles & Components)	3,229,792
	70,000	Amada Co. Ltd. (Capital Goods)	437,467
	10,300	Aoyama Trading Co. Ltd. (Retailing)	202,153
	1,190,000	Aozora Bank Ltd. (Banks)	3,345,567
	1,205,000	Asahi Glass Co. Ltd. (Capital Goods)	7,994,550
	40,000	Asahi Group Holdings Ltd. (Food, Beverage & Tobacco)	850,108
	23,700	ASKUL Corp. (Retailing)	351,668
	217,100	Brother Industries Ltd. (Technology Hardware & Equipment)	2,308,370
	41,000	Canon, Inc. (Technology Hardware & Equipment)	1,493,024
	29,000	Century Tokyo Leasing Corp. (Diversified Financials)	647,743
	82,600	Chubu Electric Power Co., Inc. (Utilities)	1,043,375


Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	25,000	Chugoku Marine Paints Ltd. (Materials)	$ 131,831
	17,800	Cocokara fine, Inc. (Food & Staples Retailing)	583,623
	12,300	Credit Saison Co. Ltd. (Diversified Financials)	260,280
	52,000	Dai Nippon Printing Co. Ltd. (Commercial & Professional Services)	420,391
	327,000	Daihatsu Motor Co. Ltd. (Automobiles & Components)	6,802,452
	318,000	Daiichi Sankyo Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)	5,383,893
	437,000	Daiwa Securities Group, Inc. (Diversified Financials)	2,541,768
	662,000	DIC Corp. (Materials)	1,310,664
	84,100	Electric Power Development Co. Ltd. (Utilities)	1,933,541
	19,200	FamilyMart Co. Ltd. (Food & Staples Retailing)	771,284
	185,000	Fuji Heavy Industries Ltd. (Automobiles & Components)	2,502,075
	6,000	HIS Co. Ltd. (Consumer Services)	204,746
	32,100	Hitachi Capital Corp. (Diversified Financials)	639,706
	221,000	Hitachi Ltd. (Technology Hardware & Equipment)	1,311,436
	21,200	Hokuriku Electric Power Co. (Utilities)	233,731
	1,393	Inpex Corp. (Energy)	8,065,162
	1,229,000	Isuzu Motors Ltd. (Automobiles & Components)	7,707,691
	186,600	IT Holdings Corp. (Software & Services)	2,651,401
	119,800	Japan Airlines Co. Ltd. (Transportation)*	4,941,945
	337	Japan Prime Realty Investment Corp. (REIT)	958,137
	5,000	JGC Corp. (Capital Goods)	141,744
	55,800	Kao Corp. (Household & Personal Products)	1,600,673
	717,000	Kawasaki Kisen Kaisha Ltd. (Transportation)*	1,361,259
	22,600	KDDI Corp. (Telecommunication Services)	1,681,583
	484,000	Kobe Steel Ltd. (Materials)	597,749
	273,000	Konica Minolta Holdings, Inc. (Technology Hardware & Equipment)	2,180,448
	22,800	Kyokuto Securities Co. Ltd. (Diversified Financials)	284,494
	8,000	Maeda Road Construction Co. Ltd. (Capital Goods)	119,226
	3,900	Makita Corp. (Capital Goods)	189,936
	22,200	Matsumotokiyoshi Holdings Co. Ltd. (Food & Staples Retailing)	538,556
	28,500	Mirait Holdings Corp. (Capital Goods)	236,618


Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	548,500	Mitsubishi Chemical Holdings Corp. (Materials)	$ 2,539,788
	118,000	Mitsubishi Heavy Industries Ltd. (Capital Goods)	630,984
	1,431,000	Mitsubishi UFJ Financial Group, Inc. (Banks)	8,138,301
	3,830	Mitsubishi UFJ Lease & Finance Co. Ltd. (Diversified Financials)	174,024
	25,200	Mitsui & Co. Ltd. (Capital Goods)	380,866
	387,300	Mizuho Financial Group, Inc. (Banks)	773,043
	10,000	Nihon Parkerizing Co. Ltd. (Materials)	164,827
	278,000	Nippon Electric Glass Co. Ltd. (Technology Hardware & Equipment)	1,339,789
	445,000	Nippon Express Co. Ltd. (Transportation)	1,836,731
	23,000	Nippon Shokubai Co. Ltd. (Materials)	221,854
	96,000	Nippon Soda Co. Ltd. (Materials)	435,802
	40,200	Nippon Telegraph & Telephone Corp. (Telecommunication Services)	1,683,634
	150,200	Nomura Holdings, Inc. (Diversified Financials)	859,787
	133,800	Nomura Real Estate Holdings, Inc. (Real Estate)	2,441,605
	268	NTT Data Corp. (Software & Services)	818,160
	856	NTT DoCoMo, Inc. (Telecommunication Services)	1,297,763
	93,000	OKK Corp. (Capital Goods)*	135,223
	3,900	Ono Pharmaceutical Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)	205,472
	16,610	ORIX Corp. (Diversified Financials)	1,776,949
	259,000	Osaka Gas Co. Ltd. (Utilities)	971,531
	1,600	Otsuka Corp. (Software & Services)	130,980
	117,500	Otsuka Holdings Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)	3,790,294
	35,100	Park24 Co. Ltd. (Commercial & Professional Services)	633,572
	12,800	Pola Orbis Holdings, Inc. (Household & Personal Products)	389,635
	35,900	Rohm Co. Ltd. (Semiconductors & Semiconductor Equipment)	1,193,527
	178,400	Round One Corp. (Consumer Services)	1,035,546
	45,000	Sekisui Chemical Co. Ltd. (Consumer Durables & Apparel)	433,561


Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	35,000	Shinmaywa Industries Ltd.
		(Capital Goods)	$ 232,559
	46,900	Showa Corp. (Automobiles &
		Components)	503,910
	59,000	Softbank Corp.
		(Telecommunication Services)	2,102,272
	50,000	Sumikin Bussan Corp.
		(Capital Goods)	159,346
	170,000	Sumitomo Chemical Co. Ltd.
		(Materials)	497,340
	662,200	Sumitomo Corp.
		(Capital Goods)	8,565,770
	203,500	Sumitomo Electric Industries Ltd. (Capital Goods)	2,290,935
	578,000	Sumitomo Heavy Industries Ltd. (Capital Goods)	2,550,611
	194,600	Sumitomo Mitsui Financial Group, Inc. (Banks)	7,815,894
	989,000	Sumitomo Mitsui Trust Holdings, Inc. (Banks)	3,652,925
	127,000	Sumitomo Osaka Cement Co. Ltd. (Materials)	425,375
	29,500	Suzuki Motor Corp. (Automobiles & Components)	774,073
	23,800	T&D Holdings, Inc. (Insurance)	293,658
	37,600	Taikisha Ltd. (Capital Goods)	756,559
	191	The Dai-ichi Life Insurance Co. Ltd. (Insurance)	273,713
	58,000	The Eighteenth Bank Ltd. (Banks)	150,903
	101,500	The Kansai Electric Power Co., Inc. (Utilities)	967,050
	79,000	The Nippon Road Co. Ltd. (Capital Goods)	353,257
	40,000	Tokai Tokyo Financial Holdings, Inc. (Diversified Financials)	200,570
	402,000	Toko, Inc. (Technology Hardware & Equipment)*	965,379
	76,600	Tokyo Ohka Kogyo Co. Ltd. (Materials)	1,490,808
	80,000	Tokyo Tatemono Co. Ltd. (Real Estate)	374,409
	288,000	Tokyu Land Corp. (Real Estate)	2,051,525
	20,000	Toppan Printing Co. Ltd. (Commercial & Professional Services)	124,136
	58,000	Toshiba TEC Corp. (Technology Hardware & Equipment)	334,609
	8,400	Toyoda Gosei Co. Ltd. (Automobiles & Components)	186,119
	175,500	Toyota Motor Corp. (Automobiles & Components)	8,382,661
	41,900	TSI Holdings Co. Ltd. (Consumer Durables & Apparel)	223,007
	18,100	Tsukui Corp. (Health Care Equipment & Services)	369,125


Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	8,200	UKC Holdings Corp. (Semiconductors & Semiconductor Equipment)	$ 171,234
	57,000	Uniden Corp. (Technology Hardware & Equipment)	142,337
	77,000	UNY Co. Ltd. (Food & Staples Retailing)	570,822

			163,009,554

	Luxembourg – 1.1%
	44,253	Aperam (Materials)	641,557
	261,850	SES SA SDR (Media)	8,013,702
	104,234	Tenaris SA (Energy)	2,186,548

			10,841,807

	Netherlands – 2.7%
	12,212	ASML Holding NV (Semiconductors & Semiconductor Equipment)	916,085
	34,732	BinckBank NV (Diversified Financials)	336,182
	165,859	Delta Lloyd NV (Insurance)	3,266,931
	73,023	Heineken Holding NV (Food, Beverage & Tobacco)	4,314,571
	322,313	ING Groep NV CVA (Diversified Financials)*	3,259,968
	52,029	Koninklijke Ahold NV (Food & Staples Retailing)	764,545
	123,956	Royal Dutch Shell PLC Class A (Energy)	4,386,618
	22,363	Royal Dutch Shell PLC Class B (Energy)	812,826
	229,843	TomTom NV (Consumer Durables & Apparel)*^(a)	1,192,046
	159,069	Unilever NV CVA (Food, Beverage & Tobacco)	6,444,876
	26,355	USG People NV (Commercial & Professional Services)	224,307

			25,918,955

	Norway – 2.3%
	181,196	DNB ASA (Banks)	2,538,264
	139,435	Gjensidige Forsikring ASA (Insurance)	2,191,677
	426,134	Statoil ASA (Energy)	11,353,273
	1,630,000	STX OSV Holdings Ltd. (Capital Goods)	1,659,574
	48,039	Telenor ASA (Telecommunication Services)	1,058,324
	56,566	Yara International ASA (Materials)	3,016,571

			21,817,683


Shares		Description	Value
	Common Stocks – (continued)
	Singapore – 2.2%
	178,000	Ascott Residence Trust (REIT)^(a)	$ 199,130
	166,000	CapitaCommercial Trust (REIT)	223,278
	170,000	ComfortDelGro Corp. Ltd. (Transportation)	265,067
	462,120	DBS Group Holdings Ltd. (Banks)	5,585,273
	47,000	Fortune Real Estate Investment Trust (REIT)	41,458
	190,000	Frasers Commercial Trust (REIT)	204,931
	144,000	Ho Bee Investment Ltd. (Real Estate)	222,282
	542,000	Hutchison Port Holdings Trust Class U (Transportation)	444,072
	39,523	Jardine Cycle & Carriage Ltd. (Retailing)	1,615,865
	122,000	Keppel Corp. Ltd. (Capital Goods)	1,133,580
	81,000	Mapletree Logistics Trust (REIT)	76,555
	66,000	OSIM International Ltd. (Retailing)	96,003
	93,000	Oversea-Chinese Banking Corp. Ltd. (Banks)	734,700
	87,000	SembCorp Industries Ltd. (Capital Goods)	385,354
	116,000	Singapore Airlines Ltd. (Transportation)	1,030,141
	791,780	Singapore Telecommunications Ltd. (Telecommunication Services)	2,237,769
	345,000	Suntec Real Estate Investment Trust (REIT)	472,622
	102,000	United Overseas Bank Ltd. (Banks)	1,553,418
	575,000	UOL Group Ltd. (Real Estate)	2,904,194
	479,000	Wilmar International Ltd. (Food, Beverage & Tobacco)	1,477,201
	141,000	Wing Tai Holdings Ltd. (Real Estate)	216,779

			21,119,672

	Spain – 2.2%
	17,041	ACS Actividades de Construccion y Servicios SA (Capital Goods)	409,040
	451,278	Amadeus IT Holding SA Class A (Software & Services)^(a)	11,308,537
	1,675,769	Banco Popular Espanol SA (Banks)	1,515,416
	215,684	Bankinter SA (Banks)^(a)	1,173,895
	92,933	Grifols SA (Pharmaceuticals, Biotechnology & Life Sciences)*	3,163,275


Shares		Description	Value
	Common Stocks – (continued)
	Spain – (continued)
	234,506	Telefonica SA
		(Telecommunication Services)	$ 3,394,002

			20,964,165

	Sweden – 1.9%
	24,885	Clas Ohlson AB Class B (Retailing)	371,643
	28,756	Electrolux AB Class B (Consumer Durables & Apparel)	759,483
	28,945	Hexpol AB (Materials)	1,600,886
	21,289	Investment AB Kinnevik Class B (Diversified Financials)	491,703
	796,877	Nordea Bank AB (Banks)	8,789,019
	176,159	Swedbank AB Class A (Banks)	4,159,582
	144,666	Telefonaktiebolaget LM Ericsson Class B (Technology Hardware & Equipment)	1,682,648

			17,854,964

	Switzerland – 4.6%
	14,824	Actelion Ltd. (Registered) (Pharmaceuticals, Biotechnology & Life Sciences)*	734,319
	3,670	EMS-Chemie Holding AG (Materials)	931,827
	2,057	Forbo Holding AG (Registered) (Consumer Durables & Apparel)*	1,381,530
	30,613	Geberit AG (Registered) (Capital Goods)*	7,161,192
	1,036	Helvetia Holding AG (Registered) (Insurance)	421,947
	142,197	Nestle SA (Registered) (Food, Beverage & Tobacco)	9,984,716
	104,087	Novartis AG (Registered) (Pharmaceuticals, Biotechnology & Life Sciences)	7,075,466
	128,395	OC Oerlikon Corp. AG (Registered) (Capital Goods)*	1,576,472
	4,713	Pargesa Holding SA (Diversified Financials)	349,286
	45,710	Roche Holding AG (Pharmaceuticals, Biotechnology & Life Sciences)	10,103,698
	49,436	Swiss Re AG (Insurance)*	3,675,463
	58,427	Xstrata PLC (Materials)	1,094,211

			44,490,127

	United Kingdom – 25.2%
	568,510	Aberdeen Asset Management PLC (Diversified Financials)	3,628,363
	84,424	Admiral Group PLC (Insurance)	1,639,455


Shares		Description	Value
	Common Stocks – (continued)
	United Kingdom – (continued)
	203,063	AMEC PLC (Energy)	$ 3,479,469
	237,902	Amlin PLC (Insurance)	1,447,032
	57,935	Anglo American PLC (Materials)	1,732,917
	134,131	AstraZeneca PLC (Pharmaceuticals, Biotechnology & Life Sciences)	6,481,178
	3,342,201	Barclays PLC (Banks)	16,046,112
	776,866	Barratt Developments PLC (Consumer Durables & Apparel)*	2,680,198
	67,211	Berendsen PLC (Commercial & Professional Services)	650,642
	429,669	BG Group PLC (Energy)	7,626,158
	455,253	BHP Billiton PLC (Materials)	15,611,485
	40,628	Bodycote PLC (Capital Goods)	297,552
	16,159	BP PLC (Energy)	119,617
	93,553	BP PLC ADR (Energy)	4,164,980
	356,545	British American Tobacco PLC (Food, Beverage & Tobacco)	18,530,214
	91,566	Cobham PLC (Capital Goods)	307,382
	281,053	Devro PLC (Food, Beverage & Tobacco)	1,518,968
	158,588	Diageo PLC (Food, Beverage & Tobacco)	4,720,871
	477,348	easyJet PLC (Transportation)	7,043,887
	772,982	Firstgroup PLC (Transportation)	2,378,342
	438,444	GlaxoSmithKline PLC ADR (Pharmaceuticals, Biotechnology & Life Sciences)	19,997,431
	350,468	Hammerson PLC (REIT)	2,697,926
	360,433	Home Retail Group PLC (Retailing)^(a)	685,669
	1,445,124	HSBC Holdings PLC (Banks)	16,433,607
	103,735	IMI PLC (Capital Goods)	1,923,282
	79,512	Imperial Tobacco Group PLC (Food, Beverage & Tobacco)	2,956,590
	57,890	InterContinental Hotels Group PLC (Consumer Services)	1,699,091
	29,100	Keller Group PLC (Capital Goods)	340,446
	467,324	Ladbrokes PLC (Consumer Services)	1,573,479
	76,815	Lancashire Holdings Ltd. (Insurance)	999,263
	151,926	Lavendon Group PLC (Capital Goods)	421,985
	256,719	Legal & General Group PLC (Insurance)	619,955
	222,937	Mondi PLC (Materials)	2,641,318
	702,621	National Grid PLC (Utilities)	7,693,449
	52,732	Next PLC (Retailing)	3,392,199
	41,470	Northgate PLC (Transportation)	209,318
	70,541	Pace PLC (Technology Hardware & Equipment)	252,509
	414,776	Petrofac Ltd. (Energy)	10,760,174
	249,586	QinetiQ Group PLC (Capital Goods)	744,153


Shares		Description	Value
	Common Stocks – (continued)
	United Kingdom – (continued)
	208,116	Rio Tinto PLC (Materials)	$ 11,757,361
	33,362	Rotork PLC (Capital Goods)	1,401,071
	132,043	SIG PLC (Capital Goods)	276,437
	530,025	Standard Chartered PLC (Banks)	14,092,602
	19,164	Subsea 7 SA (Energy)	462,939
	792,932	Taylor Wimpey PLC (Consumer Durables & Apparel)	894,558
	123,463	Tetragon Financial Group Ltd. (Diversified Financials)	1,419,824
	781,174	TUI Travel PLC (Consumer Services)	3,598,440
	42,582	Tullett Prebon PLC (Diversified Financials)	161,793
	335,847	Tullow Oil PLC (Energy)	6,055,527
	320,342	Unilever PLC (Food, Beverage & Tobacco)	13,048,642
	40,314	Vesuvius PLC (Capital Goods)	231,354
	256,413	Vodafone Group PLC (Telecommunication Services)	699,792
	325,020	Vodafone Group PLC ADR (Telecommunication Services)^(b)	8,879,547
	29,170	WH Smith PLC (Retailing)^(a)	308,097
	419,367	William Hill PLC
		(Consumer Services)	2,558,346
	20,291	WS Atkins PLC (Commercial &
		Professional Services)	266,843

			242,259,839

	TOTAL COMMON STOCKS		$ 932,616,599


	Preferred Stocks – 1.0%
	Germany – 1.0%
	60,848	Porsche Automobil Holding SE Preference Shares (Automobiles & Components)	$ 5,297,885
	93,631	ProSiebenSat.1 Media AG Preference Shares (Media)	3,193,115
	7,741	RWE AG Preference Shares (Utilities)	272,796
	2,401	Volkswagen AG Preference Shares (Automobiles & Components)	594,429

	TOTAL PREFERRED STOCKS		$ 9,358,225

	TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE		$ 941,974,824


Shares	Rate	Value
Securities Lending Reinvestment Vehicle^(c)(d)– 1.6%
Goldman Sachs Financial Square Money Market Fund – FST Shares
15,447,119	0.115%	$ 15,447,119

TOTAL INVESTMENTS – 99.7%		$ 957,421,943

OTHER ASSETS IN EXCESS OF LIABILITIES – 0.3%		2,915,516

NET ASSETS – 100.0%		$ 960,337,459


The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

*		Non-income producing security.

(a)		All or a portion of security is on loan.

(b)		All or a portion of security is segregated as collateral for initial margin requirements on futures transactions.

(c)		Variable rate security. Interest rate disclosed is that which is in effect at January 31, 2013.

(d)		Represents an affiliated issuer.


Investment Abbreviations:
ADR		— American Depositary Receipt
CVA		— Dutch Certification
REIT		— Real Estate Investment Trust
SDR		— Swedish Depositary Receipt

For information on the mutual funds, please call our toll-free Shareholder Services Line at
1-800-526-7384 or visit us on the web at www.goldmansachsfunds.com.

FUTURES CONTRACTS — At January 31, 2013 the Fund had the following futures contracts:

TAX INFORMATION — At January 31, 2013, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:



Shares		Description	Value
	Common Stocks – 94.1%
	Australia – 8.7%
	496,223	Adelaide Brighton Ltd. (Materials)	$ 1,754,389
	541,973	Ardent Leisure Group (REIT)	877,223
	704,867	Arrium Ltd. (Materials)	704,159
	508,102	Atlas Iron Ltd. (Materials)	787,572
	16,896	Aurora Oil & Gas Ltd. (Energy)*	66,852
	68,554	Ausenco Ltd. (Capital Goods)	254,670
	67,860	Australian Infrastructure Fund (Transportation)	219,370
	79,504	Automotive Holdings Group Ltd. (Retailing)	298,853
	849,485	AWE Ltd. (Energy)*	1,130,959
	46,221	BC Iron Ltd. (Materials)^(a)	172,053
	369,807	Beach Energy Ltd. (Energy)	550,913
	279,099	BlueScope Steel Ltd. (Materials)*	986,567
	241,913	Cabcharge Australia Ltd. (Commercial & Professional Services)	1,240,280
	262,594	Charter Hall Group (REIT)	931,953
	695,149	Commonwealth Property Office Fund (REIT)	805,418
	84,410	Envestra Ltd. (Utilities)	85,887
	141,049	Evolution Mining Ltd. (Materials)*	228,288
	179,134	FlexiGroup Ltd. (Diversified Financials)	750,940
	37,780	Forge Group Ltd. (Capital Goods)	233,669
	6,197	GrainCorp Ltd. Class A (Food, Beverage & Tobacco)	78,062
	219,888	GUD Holdings Ltd. (Consumer Durables & Apparel)	1,913,830
	45,486	iiNET Ltd. (Telecommunication Services)	216,926
	57,560	Imdex Ltd. (Materials)	109,343
	77,775	Investa Office Fund (REIT)	246,099
	47,220	JB Hi-Fi Ltd. (Retailing)^(a)	488,341
	20,659	Karoon Gas Australia Ltd. (Energy)*	140,091
	77,347	Kingsrose Mining Ltd. (Materials)	63,726
	6,819	McMillan Shakespeare Ltd. (Commercial & Professional Services)	97,684
	10,086	Medusa Mining Ltd. (Materials)	52,205
	19,903	Mineral Deposits Ltd. (Materials)*	84,922
	13,183	Monadelphous Group Ltd. (Capital Goods)	366,454
	301,134	Northern Star Resources Ltd. (Materials)	349,976
	388,925	NRW Holdings Ltd. (Capital Goods)	779,307
	4,742	Perpetual Ltd. (Diversified Financials)	192,223
	47,443	Primary Health Care Ltd. (Health Care Equipment & Services)	222,937
	99,539	Regis Resources Ltd. (Materials)*	541,195



Shares		Description	Value
	Common Stocks – (continued)
	Australia – (continued)
	244,701	Roc Oil Co. Ltd. (Energy)*	$ 122,804
	1,030,473	Sigma Pharmaceuticals Ltd. (Health Care Equipment & Services)	716,431
	475,826	Skilled Group Ltd. (Commercial & Professional Services)	1,379,905
	782,315	Spark Infrastructure Group (Utilities)	1,432,315
	161,436	STW Communications Group Ltd. (Media)	218,686
	31,506	Wotif.com Holdings Ltd. (Retailing)	191,526

			22,085,003

	Austria – 1.0%
	2,893	AMAG Austria Metall AG (Materials)^(b)	94,805
	27,667	Conwert Immobilien Invest SE (Real Estate)^(a)	375,512
	31,486	Oesterreichische Post AG (Transportation)	1,377,749
	2,449	Rosenbauer International AG (Capital Goods)	158,615
	33,384	S IMMO AG (Real Estate)	212,093
	13,444	Strabag SE (Capital Goods)	364,812

			2,583,586

	Bahamas – 0.0%
	517	United International Enterprises (Food, Beverage & Tobacco)	94,091

	Belgium – 1.1%
	2,507	Ackermans & van Haaren NV (Diversified Financials)	232,666
	20,272	Compagnie Maritime Belge SA (Transportation)	415,632
	8,525	EVS Broadcast Equipment SA (Technology Hardware & Equipment)	508,530
	21,870	Galapagos NV (Pharmaceuticals, Biotechnology & Life Sciences)*	526,127
	2,353	Gimv NV (Diversified Financials)	130,672
	6,089	Kinepolis Group NV (Media)	711,960
	8,085	Melexis NV (Semiconductors & Semiconductor Equipment)	153,360
	13,093	Recticel SA (Materials)	101,155

			2,780,102

	Bermuda – 0.3%
	74,454	Catlin Group Ltd. (Insurance)	617,615
	9,689	Hiscox Ltd. (Insurance)	72,811



Shares		Description	Value
	Common Stocks – (continued)
	Bermuda – (continued)
	94,465	Northern Offshore Ltd. (Energy)	$ 170,327

			860,753

	China – 0.2%
	21,500	AAC Technologies Holdings, Inc. (Technology Hardware & Equipment)	83,186
	409,000	China Minzhong Food Corp. Ltd. (Food, Beverage & Tobacco)*^(a)	330,112
	214,000	Foxconn International Holdings Ltd. (Technology Hardware & Equipment)*	87,871
	205,000	Sateri Holdings Ltd. (Materials)	51,032
	93,000	SITC International Holdings Co. Ltd. (Transportation)	32,609

			584,810

	Denmark – 2.7%
	15,477	Chr. Hansen Holding A/S (Materials)	547,445
	16,981	East Asiatic Co. Ltd. A/S (Food, Beverage & Tobacco)	335,815
	88,819	GN Store Nord A/S (Health Care Equipment & Services)	1,445,174
	30,739	Pandora A/S (Consumer Durables & Apparel)^(a)	759,576
	930	Rockwool International A/S Class B (Capital Goods)	111,446
	13,309	Royal UNIBREW A/S (Food, Beverage & Tobacco)	1,235,520
	14,252	Schouw & Co. A/S (Capital Goods)	425,379
	8,899	Sydbank A/S (Banks)*	175,399
	8,726	Topdanmark A/S (Insurance)*	1,913,739

			6,949,493

	Finland – 1.4%
	7,119	Cramo OYJ (Capital Goods)	98,312
	29,916	Kemira OYJ (Materials)	473,941
	29,966	Ramirent OYJ (Capital Goods)	291,008
	68,122	Rautaruukki OYJ (Materials)	490,008
	24,048	Sanoma OYJ (Media)	243,282
	60,580	Sponda OYJ (Real Estate)	293,196
	75,803	Tieto OYJ (Software & Services)	1,685,822

			3,575,569

	France – 3.5%
	5,100	Altamir Amboise (Diversified Financials)	54,221
	47,404	Assystem (Commercial & Professional Services)	1,066,531
	9,937	Boiron SA (Pharmaceuticals, Biotechnology & Life Sciences)	423,123



Shares		Description	Value
	Common Stocks – (continued)
	France – (continued)
	20,806	Cegid Group (Software & Services)	$ 430,536
	10,004	Ciments Francais SA (Materials)	607,587
	36,009	Club Mediterranee SA (Consumer Services)*	682,076
	879	Esso SA Francaise (Energy)	70,393
	19,706	Etablissements Maurel et Prom (Energy)	363,918
	15,171	Euler Hermes SA (Insurance)	1,353,216
	1,081	FFP (Automobiles & Components)	45,971
	12,455	M6 Metropole Television SA (Media)	208,447
	59,708	Maurel & Prom Nigeria SA (Energy)*	212,483
	12,333	Medica SA (Health Care Equipment & Services)	234,943
	24,055	Mercialys SA (REIT)	535,150
	7,220	Neopost SA (Technology Hardware & Equipment)^(a)	412,115
	4,362	Nexity SA (Consumer Durables & Apparel)	133,129
	6,733	Parrot SA (Technology Hardware & Equipment)*	260,370
	17,267	Plastic Omnium SA (Automobiles & Components)	675,341
	14,556	Saft Groupe SA (Capital Goods)	393,164
	1,482	SEB SA (Consumer Durables & Apparel)	118,479
	12,283	Societe de la Tour Eiffel (REIT)	757,903

			9,039,096

	Germany – 4.6%
	21,663	Aareal Bank AG (Banks)*	516,067
	19,171	ADVA Optical Networking SE (Technology Hardware & Equipment)*	116,995
	11,691	CENTROTEC Sustainable AG (Capital Goods)	245,608
	5,899	Cewe Color Holding AG (Commercial & Professional Services)	261,735
	7,251	Comdirect Bank AG (Banks)	85,261
	6,121	CropEnergies AG (Energy)	50,191
	1,932	Delticom AG (Retailing)	92,896
	21,176	Gerresheimer AG (Pharmaceuticals, Biotechnology & Life Sciences)*	1,088,760
	26,820	Gildemeister AG (Capital Goods)	660,692
	5,653	Grammer AG (Automobiles & Components)	151,162
	21,807	Homag Group AG (Capital Goods)*	320,227
	7,851	KUKA AG (Capital Goods)*	304,562
	17,124	Leoni AG (Automobiles & Components)	740,968



Shares		Description	Value
	Common Stocks – (continued)
	Germany – (continued)
	6,447	Nemetschek AG (Software & Services)	$ 334,186
	7,038	NORMA Group AG (Capital Goods)	204,576
	7,704	Pfeiffer Vacuum Technology AG (Capital Goods)	959,857
	5,749	R Stahl AG (Capital Goods)	226,335
	53,443	Rheinmetall AG (Capital Goods)	2,844,881
	10,307	Sixt AG (Transportation)	234,326
	49,441	Symrise AG (Materials)	1,747,692
	21,072	Takkt AG (Retailing)	300,851
	1,983	Tipp24 SE (Consumer Services)*	123,856

			11,611,684

	Hong Kong – 2.7%
	1,410,000	Bonjour Holdings Ltd. (Retailing)	178,057
	456,000	Brightoil Petroleum Holdings Ltd. (Energy)	88,812
	346,000	Chen Hsong Holdings (Capital Goods)	114,256
	31,000	Chow Sang Sang Holdings International Ltd. (Retailing)	82,083
	451,500	Dickson Concepts International Ltd. (Retailing)	254,206
	248,000	Dorsett Hospitality International Ltd. (Consumer Services)	66,513
	938,000	Emperor International Holdings (Real Estate)	293,999
	610,000	Emperor Watch & Jewellery Ltd. (Retailing)	75,540
	348,815	Esprit Holdings Ltd. (Retailing)	485,209
	324,000	Giordano International Ltd. (Retailing)	329,105
	174,000	Glorious Sun Enterprises Ltd. (Consumer Durables & Apparel)	53,184
	90,932	Great Eagle Holdings Ltd. (Real Estate)	353,115
	538,100	HKR International Ltd. (Real Estate)	311,472
	274,000	Hutchison Telecommunications Hong Kong Holdings Ltd. (Telecommunication Services)	124,031
	116,000	IT Ltd. (Retailing)	50,387
	201,500	Johnson Electric Holdings Ltd. (Capital Goods)	142,335
	47,000	Luk Fook Holdings International Ltd. (Retailing)	164,795
	258,800	Man Wah Holdings Ltd. (Consumer Durables & Apparel)	238,049
	15,000	Melco International Development Ltd. (Consumer Services)	24,189
	126,000	Newocean Energy Holdings Ltd. (Energy)	64,351
	184,000	Norstar Founders Group Ltd. (Automobiles & Components)*	—



Shares		Description	Value
	Common Stocks – (continued)
	Hong Kong – (continued)
	255,000	Pacific Basin Shipping Ltd. (Transportation)	$ 148,355
	375,000	Pacific Textile Holdings Ltd. (Consumer Durables & Apparel)	337,689
	850,000	Pico Far East Holdings Ltd. (Media)	233,569
	611,000	Prosperity REIT (REIT)	196,930
	210,000	Regal Hotels International Holdings Ltd. (Consumer Services)	105,319
	43,000	Regal Real Estate Investment Trust (REIT)	12,541
	1,008,000	Singamas Container Holdings Ltd. (Capital Goods)	290,955
	11,668	SmarTone Telecommunications Holdings Ltd. (Telecommunication Services)	20,820
	109,138	SOCAM Development Ltd. (Capital Goods)	131,631
	405,000	Sunlight Real Estate Investment Trust (REIT)	180,645
	338,500	Techtronic Industries Co. (Consumer Durables & Apparel)	686,227
	10,000	Television Broadcasts Ltd. (Media)	73,753
	284,000	Texwinca Holdings Ltd. (Consumer Durables & Apparel)	267,176
	50,000	The United Laboratories International Holdings Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)*	22,890
	100,000	Tian An China Investments Co. Ltd. (Real Estate)	67,437
	170,000	Truly International Holdings (Technology Hardware & Equipment)	55,024
	778,000	VST Holdings Ltd. (Technology Hardware & Equipment)	192,369
	42,300	VTech Holdings Ltd. (Technology Hardware & Equipment)	487,424

			7,004,442

	Ireland – 0.3%
	6,453	FBD Holdings PLC (Insurance)	95,505
	41,746	Grafton Group PLC (Capital Goods)	244,684
	367,051	Total Produce PLC (Food & Staples Retailing)	298,325

			638,514

	Israel – 0.9%
	14,949	Africa-Israel Investments Ltd. (Real Estate)*	36,440
	1,743	Airport City Ltd. (Real Estate)*	8,111
	39,560	Alony Hetz Properties & Investments Ltd. (REIT)	248,647



Shares		Description	Value
	Common Stocks – (continued)
	Israel – (continued)
	2,359	AL-ROV (Israel) Ltd. (Real Estate)*	$ 61,076
	33,206	Amot Investments Ltd. (Real Estate)	85,245
	776	Babylon Ltd. (Software & Services)	5,147
	254	Bayside Land Corp. (Real Estate)	50,561
	16,372	Clal Industries Ltd. (Capital Goods)	57,887
	2,646	Clal Insurance Enterprises Holdings Ltd. (Insurance)	39,677
	1,840	Delek Automotive Systems Ltd. (Retailing)	16,940
	1,147	Elbit Systems Ltd. (Capital Goods)	44,096
	6,639	First International Bank Of Israel Ltd. (Banks)*	89,823
	7,228	Frutarom Industries Ltd. (Materials)	91,767
	8,667	Gazit-Globe Ltd. (Real Estate)	111,001
	624	Harel Insurance Investments & Financial Services Ltd. (Insurance)	27,176
	79,766	Israel Discount Bank Ltd. Class A (Banks)*	133,568
	1,133	Ituran Location and Control Ltd. (Technology Hardware & Equipment)	16,154
	3,425	JOEL-Jerusalem Oil Exploration (Real Estate)^*	69,759
	5,770	Jerusalem Economy Ltd. (Real Estate)*	32,924
	5,716	Koor Industries Ltd. (Capital Goods)*	86,976
	9,692	Matrix IT Ltd. (Software & Services)	44,447
	2,507	Melisron Ltd. (Real Estate)	48,549
	1,590	Naphtha Israel Petroleum Corp. Ltd. (Energy)*	7,249
	4,433	Nitsba Holdings 1995 Ltd. (Real Estate)*	40,015
	184,635	Oil Refineries Ltd. (Energy)*	94,727
	42,629	Ormat Industries Ltd. (Capital Goods)*	251,783
	30,146	Partner Communications Co. Ltd. (Telecommunication Services)	173,658
	818	Paz Oil Co. Ltd. (Energy)*	122,111
	5,114	Rami Levi Chain Stores Hashikma Marketing 2006 Ltd. (Food & Staples Retailing)	186,553
	1,738	Retalix Ltd. (Software & Services)*	51,987
	5,135	Shikun & Binui Ltd. (Capital Goods)	9,699
	7,048	Shufersal Ltd. (Food & Staples Retailing)	21,623



Shares		Description	Value
	Common Stocks – (continued)
	Israel – (continued)
	15,646	Union Bank of Israel Ltd. (Banks)*	$ 55,453

			2,420,829

	Italy – 5.8%
	7,938	Ansaldo STS SpA (Transportation)	81,713
	103,579	ASTM SpA (Transportation)^(a)	1,162,236
	3,340	Azimut Holding SpA (Diversified Financials)	58,751
	438,732	Banca Carige SpA (Banks)^(a)	491,423
	26,122	Banca Generali SpA (Diversified Financials)	500,684
	10,543	Banca IFIS SpA (Diversified Financials)	96,199
	23,048	Banca Popolare dell’Emilia Romagna Scrl (Banks)	203,588
	299,342	Banca Popolare di Sondrio Scarl (Banks)	2,156,285
	6,535	Brunello Cucinelli SpA (Consumer Durables & Apparel)*	131,308
	84,378	Cairo Communication SpA (Media)	302,919
	88,854	Credito Emiliano SpA (Banks)	531,542
	31,345	Danieli & C. Officine Meccaniche SpA (Capital Goods)	969,345
	135,401	Danieli & C. Officine Meccaniche SpA RSP (Capital Goods)	2,525,444
	86,101	De’Longhi SpA (Consumer Durables & Apparel)	1,390,442
	167,341	Impregilo SpA (Capital Goods)	867,982
	43,677	Indesit Co. SpA (Consumer Durables & Apparel)	367,056
	62,280	Lottomatica Group SpA (Consumer Services)	1,539,835
	14,300	MARR SpA (Food & Staples Retailing)	160,202
	71,800	Saras SpA (Energy)*	96,700
	117,041	Societa Iniziative Autostradali e Servizi SpA (Transportation)	1,175,205

			14,808,859

	Japan – 24.3%
	9,600	Ai Holdings Corp. (Technology Hardware & Equipment)	79,893
	8,300	Aichi Corp. (Capital Goods)	45,353
	18,500	Aida Engineering Ltd. (Capital Goods)	140,127
	22,100	Aisan Industry Co. Ltd. (Automobiles & Components)	186,279
	32,600	Alpen Co. Ltd. (Retailing)	594,381
	40,600	Amano Corp. (Technology Hardware & Equipment)	365,552
	33,700	Aoyama Trading Co. Ltd. (Retailing)	661,412



Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	32,900	Arcs Co. Ltd. (Food & Staples Retailing)	$ 616,219
	29,500	Arnest One Corp. (Consumer Durables & Apparel)	472,016
	18,100	ASKUL Corp. (Retailing)	268,574
	7,700	Autobacs Seven Co. Ltd. (Retailing)	313,228
	7,800	Avex Group Holdings, Inc. (Media)	210,828
	16,400	Bank of the Ryukyus Ltd. (Banks)	204,438
	29,200	Belluna Co. Ltd. (Retailing)	218,627
	10,600	C. Uyemura & Co. Ltd. (Materials)	346,475
	18,100	Century Tokyo Leasing Corp. (Diversified Financials)	404,281
	12,700	Chiyoda Co. Ltd. (Retailing)	293,996
	6,600	Chiyoda Integre Co. Ltd. (Capital Goods)	69,766
	5,300	Chori Co. Ltd. (Retailing)	57,357
	15,000	Chugoku Marine Paints Ltd. (Materials)	79,098
	2,800	CMIC Holdings Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)	42,743
	23,400	Coca-Cola Central Japan Co. Ltd. (Food, Beverage & Tobacco)	313,538
	11,600	Cocokara fine, Inc. (Food & Staples Retailing)	380,339
	38	CyberAgent, Inc. (Media)	79,686
	21,500	Daifuku Co. Ltd. (Capital Goods)	143,383
	101,900	Daiichikosho Co. Ltd. (Media)	2,490,530
	168,000	Daikyo, Inc. (Real Estate)	449,861
	13,000	Dainichiseika Color & Chemicals Manufacturing Co. Ltd. (Materials)	59,919
	47,000	Daiwa Industries Ltd. (Capital Goods)	258,971
	13,000	Denki Kogyo Co. Ltd. (Technology Hardware & Equipment)	55,619
	17,400	Denyo Co. Ltd. (Capital Goods)	210,670
	258,000	DIC Corp. (Materials)	510,803
	40,500	DTS Corp. (Software & Services)	512,823
	12,700	Dunlop Sports Co. Ltd. (Consumer Durables & Apparel)	140,321
	11,100	Dydo Drinco, Inc. (Food, Beverage & Tobacco)	447,085
	70,000	Ebara Corp. (Capital Goods)	273,775
	6,900	Foster Electric Co. Ltd. (Consumer Durables & Apparel)	108,636
	76,300	Fuji Machine Manufacturing Co. Ltd. (Capital Goods)	595,639
	9,900	Fuji Oil Co. Ltd. (Food, Beverage & Tobacco)	134,493
	34,000	Fujibo Holdings, Inc. (Consumer Durables & Apparel)	111,572
	50,000	Fujikura Ltd. (Capital Goods)	155,525
	2,600	Fujimi, Inc. (Materials)	44,587



Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	8,900	FUJISOFT, Inc. (Software & Services)	$ 188,228
	384	Geo Holdings Corp. (Retailing)	385,089
	164	Global One Real Estate Investment Corp. (REIT)	1,019,472
	22,400	Glory Ltd. (Capital Goods)	524,630
	9,600	G-Tekt Corp. (Automobiles & Components)	227,616
	12,120	Gulliver International Co. Ltd. (Retailing)	514,689
	2,300	Hajime Construction Co. Ltd. (Consumer Durables & Apparel)	97,830
	27,700	Hakuto Co. Ltd. (Technology Hardware & Equipment)	254,707
	17,300	Heiwa Real Estate Co. Ltd. (Real Estate)	234,040
	340	Heiwa Real Estate REIT, Inc. (REIT)	245,396
	27,700	HIS Co. Ltd. (Consumer Services)	945,242
	73,700	Hitachi Capital Corp. (Diversified Financials)	1,468,733
	38,900	Hitachi Koki Co. Ltd. (Capital Goods)	311,151
	2,300	Hogy Medical Co. Ltd. (Health Care Equipment & Services)	110,853
	8,300	Hoshizaki Electric Co. Ltd. (Capital Goods)	246,799
	36,000	IBJ Leasing Co. Ltd. (Diversified Financials)	965,671
	13,700	Ichiyoshi Securities Co. Ltd. (Diversified Financials)	113,076
	6,500	Iida Home Max (Real Estate)	84,656
	69,200	Inabata & Co. Ltd. (Capital Goods)	466,885
	29,100	IT Holdings Corp. (Software & Services)	413,482
	46,000	Jaccs Co. Ltd. (Diversified Financials)	234,836
	11,400	Jafco Co. Ltd. (Diversified Financials)	394,687
	24,000	Japan Aviation Electronics Industry Ltd. (Technology Hardware & Equipment)	175,716
	6,200	Japan Digital Laboratory Co. Ltd. (Technology Hardware & Equipment)	70,375
	40	Japan Logistics Fund, Inc. (REIT)	354,860
	21,600	Japan Securities Finance Co. Ltd. (Diversified Financials)	148,434
	88,200	JVC Kenwood Corp. (Consumer Durables & Apparel)	305,533
	23,700	Kaga Electronics Co. Ltd. (Technology Hardware & Equipment)	199,134
	31,000	Kamei Corp. (Capital Goods)	269,384
	38,600	Kasumi Co. Ltd. (Food & Staples Retailing)	244,448
	818,000	Kawasaki Kisen Kaisha Ltd. (Transportation)*	1,553,012



Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	16,600	Keihin Corp. (Automobiles & Components)	$ 230,619
	27	Kenedix Realty Investment Corp. (REIT)	105,733
	548	Kenedix, Inc. (Real Estate)*	171,200
	40,000	Kinki Sharyo Co. Ltd. (Capital Goods)	137,782
	26,000	Kitz Corp. (Capital Goods)	133,930
	20,300	Komori Corp. (Capital Goods)	221,920
	126,000	Kurabo Industries Ltd. (Consumer Durables & Apparel)	213,266
	59,600	Kuroda Electric Co. Ltd. (Capital Goods)	727,901
	4,400	Kyokuto Kaihatsu Kogyo Co. Ltd. (Capital Goods)	49,576
	82,300	KYORIN Holdings, Inc. (Pharmaceuticals, Biotechnology & Life Sciences)	1,675,761
	2,900	Kyoritsu Maintenance Co. Ltd. (Consumer Services)	71,412
	20,200	Lifenet Insurance Co. (Insurance)*	184,008
	5,000	Maeda Road Construction Co. Ltd. (Capital Goods)	74,516
	43,000	Makino Milling Machine Co. Ltd. (Capital Goods)	273,677
	43,000	Marudai Food Co. Ltd. (Food, Beverage & Tobacco)	142,252
	36,000	Maruzen Showa Unyu Co. Ltd. (Transportation)	104,057
	22,900	Matsumotokiyoshi Holdings Co. Ltd. (Food & Staples Retailing)	555,538
	5,000	Max Co. Ltd. (Capital Goods)	59,672
	474	MID REIT, Inc. (REIT)	1,162,799
	32,000	Mirait Holdings Corp. (Capital Goods)	265,676
	7,700	Mitsubishi Pencil Co. Ltd. (Commercial & Professional Services)	132,231
	127,000	Mitsubishi Steel Manufacturing Co. Ltd. (Materials)	248,525
	6,200	Mitsui High-Tec, Inc. (Semiconductors & Semiconductor Equipment)	45,300
	26,000	Mitsui Matsushima Co. Ltd. (Capital Goods)	70,903
	41,000	Mitsui Sugar Co. Ltd. (Food, Beverage & Tobacco)	129,532
	16,300	Mori Seiki Co. Ltd. (Capital Goods)	153,334
	28,000	Morinaga Milk Industry Co. Ltd. (Food, Beverage & Tobacco)	89,947
	21,100	Moshi Moshi Hotline, Inc. (Commercial & Professional Services)	308,419
	113,800	Namura Shipbuilding Co. Ltd. (Capital Goods)	478,918
	11,500	NEC Fielding Ltd. (Software & Services)	137,734



Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	11,700	NEC Networks & System Integration Corp. (Software & Services)	$ 219,787
	25,600	Nichiha Corp. (Capital Goods)	370,664
	25,000	Nichirei Corp. (Food, Beverage & Tobacco)	124,206
	14,000	Nippo Corp. (Capital Goods)	187,755
	28,000	Nippon Beet Sugar Manufacturing Co. Ltd. (Food, Beverage & Tobacco)	53,441
	27,800	Nippon Konpo Unyu Soko Co. Ltd. (Transportation)	385,925
	114,600	Nippon Light Metal Holdings Co. Ltd. (Materials)*	131,606
	51,000	Nippon Paint Co. Ltd. (Materials)	458,328
	21,000	Nippon Seiki Co. Ltd. (Automobiles & Components)	249,411
	51,000	Nippon Shokubai Co. Ltd. (Materials)	491,938
	134,000	Nippon Soda Co. Ltd. (Materials)	608,307
	46,000	Nippon Thompson Co. Ltd. (Capital Goods)	181,236
	134,000	Nishimatsu Construction Co. Ltd. (Capital Goods)	249,322
	15,000	Nisshinbo Holdings, Inc. (Capital Goods)	113,884
	27,000	Nissin Corp. (Transportation)	66,477
	19,000	Nitto Kogyo Corp. (Capital Goods)	257,904
	39,000	NOF Corp. (Materials)	179,427
	20,400	Noritz Corp. (Capital Goods)	365,835
	830	Obic Co. Ltd. (Software & Services)	177,548
	8,000	Okuwa Co. Ltd. (Food & Staples Retailing)	93,068
	8,700	Osaka Steel Co. Ltd. (Materials)	149,661
	44,700	OSG Corp. (Capital Goods)	581,584
	17,200	Otsuka Kagu Ltd. (Retailing)	149,344
	15,800	Parco Co. Ltd. (Retailing)	163,981
	75	Pasona Group, Inc. (Commercial & Professional Services)	37,698
	22,300	Pola Orbis Holdings, Inc. (Household & Personal Products)	678,818
	5,200	Relo Holdings, Inc. (Real Estate)	191,891
	13,200	Resorttrust, Inc. (Consumer Services)	286,841
	4,400	Ricoh Leasing Co. Ltd. (Diversified Financials)	120,680
	22,300	Riso Kagaku Corp. (Technology Hardware & Equipment)	442,198
	206,700	Round One Corp. (Consumer Services)	1,199,816
	102,000	Ryobi Ltd. (Capital Goods)	256,018
	5,600	Ryohin Keikaku Co. Ltd. (Retailing)	317,158
	4,100	Sakata Seed Corp. (Food, Beverage & Tobacco)	49,261



Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	86,000	San-Ai Oil Co. Ltd. (Energy)	$ 373,619
	25,800	Sanshin Electronics Co. Ltd. (Technology Hardware & Equipment)	174,967
	17,000	Sanyo Chemical Industries Ltd. (Materials)	95,540
	20,000	Sanyo Shokai Ltd. (Consumer Durables & Apparel)	54,654
	75,000	Seika Corp. (Capital Goods)	210,776
	3,500	Seikagaku Corp. (Pharmaceuticals, Biotechnology & Life Sciences)	38,312
	276	Sekisui House SI Investment Co. (REIT)	1,332,151
	31,000	Sekisui Plastics Co. Ltd. (Materials)	75,351
	14,100	Shinko Electric Industries Co. Ltd. (Semiconductors & Semiconductor Equipment)	107,893
	51,500	Shinko Shoji Co. Ltd. (Technology Hardware & Equipment)	462,170
	121,000	Shinmaywa Industries Ltd. (Capital Goods)	803,990
	80,000	Shinsho Corp. (Capital Goods)	164,721
	57,700	Showa Corp. (Automobiles & Components)	619,949
	20,100	Sintokogio Ltd. (Capital Goods)	147,053
	99,600	Sodick Co. Ltd. (Capital Goods)	512,463
	16,000	Sumikin Bussan Corp. (Capital Goods)	50,991
	19,000	Sumitomo Bakelite Co. Ltd. (Materials)	75,816
	16,000	Sumitomo Osaka Cement Co. Ltd. (Materials)	53,591
	22,000	Sumitomo Precision Products Co. Ltd. (Capital Goods)	99,363
	4,340	Sumitomo Real Estate Sales Co. Ltd. (Real Estate)	214,533
	48,000	Sumitomo Seika Chemicals Co. Ltd. (Materials)	172,312
	23,000	Taihei Kogyo Co. Ltd. (Capital Goods)	92,335
	26,800	Taikisha Ltd. (Capital Goods)	539,250
	7,400	Takara Leben Co. Ltd. (Real Estate)	86,263
	15,000	Tatsuta Electric Wire and Cable Co. Ltd. (Capital Goods)	126,358
	99,000	The Bank of Nagoya Ltd. (Banks)	351,012
	26,000	The Hyakugo Bank Ltd. (Banks)	112,625
	133,000	The Keiyo Bank Ltd. (Banks)	630,960
	52,000	The Nippon Road Co. Ltd. (Capital Goods)	232,523
	21,000	The Nippon Synthetic Chemical Industry Co. Ltd. (Materials)	154,143
	9,000	The Sumitomo Warehouse Co. Ltd. (Transportation)	45,214
	141,000	The Toho Bank Ltd. (Banks)	446,673
	4,900	The Yachiyo Bank Ltd. (Banks)	116,265
	211,000	Toa Corp. (Capital Goods)	328,080
	155,000	Toagosei Co. Ltd. (Materials)	640,490



Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	12,200	Tocalo Co. Ltd. (Capital Goods)	$ 188,407
	8,500	Toho Holdings Co. Ltd. (Health Care Equipment & Services)	164,157
	13,200	Tohokushinsha Film Corp. (Media)	102,931
	131,000	Tokai Tokyo Financial Holdings, Inc. (Diversified Financials)	656,868
	1,170	Token Corp. (Consumer Durables & Apparel)	65,217
	68,000	Toko, Inc. (Technology Hardware & Equipment)*	163,298
	112,000	Tokuyama Corp. (Materials)	223,234
	14,200	Tokyo Ohka Kogyo Co. Ltd. (Materials)	276,364
	327,000	Tokyo Tatemono Co. Ltd. (Real Estate)	1,530,397
	50,900	TOMONY Holdings, Inc. (Banks)	220,925
	75	Top REIT, Inc. (REIT)	353,175
	7,000	Topcon Corp. (Technology Hardware & Equipment)	57,277
	50,900	Topre Corp. (Automobiles & Components)	492,177
	22,700	Torii Pharmaceutical Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)	561,385
	38,000	Toshiba Machine Co. Ltd. (Capital Goods)	173,805
	4,000	Toshiba Plant Systems & Services Corp. (Capital Goods)	55,824
	29,000	Toshiba TEC Corp. (Technology Hardware & Equipment)	167,304
	16,000	Toyo Ink SC Holdings Co. Ltd. (Materials)	70,102
	22,000	Toyo Tire & Rubber Co. Ltd. (Automobiles & Components)	75,821
	5,600	TS Tech Co. Ltd. (Automobiles & Components)	108,313
	17,100	TSI Holdings Co. Ltd. (Consumer Durables & Apparel)	91,013
	63,000	Tsubakimoto Chain Co. (Capital Goods)	334,550
	43,000	Tsugami Corp. (Capital Goods)	264,955
	19,000	Tsukishima Kikai Co. Ltd. (Capital Goods)	170,784
	8,200	Tsukui Corp. (Health Care Equipment & Services)	167,228
	4,500	TV Asahi Corp. (Media)	69,412
	14,400	UKC Holdings Corp. (Semiconductors & Semiconductor Equipment)	300,703
	41,900	UNY Co. Ltd. (Food & Staples Retailing)	310,616
	24,030	Usen Corp. (Media)*	42,401
	47,000	Wakita & Co. Ltd. (Capital Goods)	416,365
	6,700	Yellow Hat Ltd. (Retailing)	100,974
	18,000	Yodogawa Steel Works Ltd. (Materials)	64,096



Shares		Description	Value
	Common Stocks – (continued)
	Japan – (continued)
	18,300	Yorozu Corp. (Automobiles & Components)	$ 262,565

			61,909,287

	Luxembourg – 0.9%
	47,607	Aperam (Materials)	690,182
	115,076	GAGFAH SA (Real Estate)*	1,408,225
	37,214	Orco Property Group (Real Estate)	137,905

			2,236,312

	Netherlands – 1.7%
	27,536	Beter Bed Holding NV (Retailing)	555,030
	56,710	BinckBank NV (Diversified Financials)	548,913
	977	Nutreco NV (Food, Beverage & Tobacco)	86,607
	349,050	SNS REAAL NV (Diversified Financials)*^(a)	398,975
	179,936	TomTom NV (Consumer Durables & Apparel)^*(a)	933,211
	125,757	USG People NV (Commercial & Professional Services)	1,070,316
	14,570	Vastned Retail NV (REIT)	657,389

			4,250,441

	New Zealand – 0.5%
	60,703	Chorus Ltd. (Telecommunication Services)	145,272
	256,644	New Zealand Oil & Gas Ltd. (Energy)	194,848
	259,047	Ryman Healthcare Ltd. (Health Care Equipment & Services)	1,002,299

			1,342,419

	Norway – 2.8%
	6,853	Aker ASA Class A (Diversified Financials)	292,235
	44,940	DNO International ASA (Energy)*	76,686
	31,933	Fred Olsen Energy ASA (Energy)	1,524,948
	59,764	Marine Harvest ASA (Food, Beverage & Tobacco)*	59,817
	120,841	Petroleum Geo-Services ASA (Energy)	2,143,778
	558,000	STX OSV Holdings Ltd. (Capital Goods)	568,124
	68,720	TGS Nopec Geophysical Co. ASA (Energy)	2,562,812

			7,228,400

	Peru – 0.0%
	9,383	Copeinca ASA (Food, Beverage & Tobacco)	74,200



Shares		Description	Value
	Common Stocks – (continued)
	Portugal – 0.7%
	259,046	Mota-Engil SGPS SA (Capital Goods)	$ 761,502
	193,711	Portucel SA (Materials)	748,557
	27,448	Semapa-Sociedade de Investimento e Gestao (Materials)	264,609

			1,774,668

	Singapore – 2.4%
	478,481	AIMS AMP Capital Industrial REIT (REIT)	612,669
	108,000	Amtek Engineering Ltd. (Capital Goods)	51,071
	319,000	Ascott Residence Trust (REIT)^(a)	356,867
	24,000	Boustead Singapore Ltd. (Energy)	21,909
	82,629	Cambridge Industrial Trust (REIT)	47,407
	211,000	China Aviation Oil Singapore Corp. Ltd. (Energy)	184,163
	379,000	Chip Eng Seng Corp. Ltd. (Capital Goods)	235,366
	123,000	CWT Ltd. (Transportation)	142,691
	12,000	Frasers Centrepoint Trust (REIT)	18,814
	426,800	Frasers Commercial Trust (REIT)	460,340
	282,000	GuocoLeisure Ltd. (Consumer Services)	169,844
	301,000	Hi-P International Ltd. Class P (Technology Hardware & Equipment)	170,390
	188,000	Ho Bee Investment Ltd. (Real Estate)	290,201
	49,000	Hong Leong Asia Ltd. (Capital Goods)	67,091
	85,000	Hyflux Ltd. (Utilities)	92,405
	140,000	Indofood Agri Resources Ltd. (Food, Beverage & Tobacco)	147,737
	74,000	K-Green Trust (Commercial & Professional Services)	62,448
	786,000	Lippo Malls Indonesia Retail Trust (REIT)	333,251
	61,000	OSIM International Ltd. (Retailing)	88,730
	67,000	Overseas Union Enterprise Ltd. (Consumer Services)	161,469
	61,000	Parkway Life Real Estate Investment Trust (REIT)	114,849
	60,000	Perennial China Retail Trust (Real Estate)	30,088
	56,000	Sakari Resources Ltd. (Energy)	83,707
	162,000	SATS Ltd. (Transportation)	399,134
	196,000	Stamford Land Corp. Ltd. (Consumer Services)	93,462
	786,000	Starhill Global REIT (REIT)	536,691



Shares		Description	Value
	Common Stocks – (continued)
	Singapore – (continued)
	171,000	Suntec Real Estate Investment Trust (REIT)	$ 234,256
	19,000	Super Group Ltd. (Food, Beverage & Tobacco)	52,963
	218,000	Tiger Airways Holdings Ltd. (Transportation)*	134,821
	42,000	Venture Corp. Ltd. (Technology Hardware & Equipment)	288,124
	322,000	Wing Tai Holdings Ltd. (Real Estate)	495,055

			6,178,013

	Spain – 0.9%
	72,039	Almirall SA (Pharmaceuticals, Biotechnology & Life Sciences)	890,745
	5,041	Bolsas y Mercados Espanoles SA (Diversified Financials)	141,207
	6,653	Cie Automotive SA (Automobiles & Components)	46,522
	5,238	Corp. Financiera Alba SA (Diversified Financials)	243,304
	23,843	Ence Energia y Celulosa SA (Materials)	71,397
	23,426	Fomento de Construcciones y Contratas SA (Capital Goods)^(a)	317,125
	43,437	Vueling Airlines SA (Transportation)*	459,087

			2,169,387

	Sweden – 3.7%
	17,743	Avanza Bank Holding AB (Diversified Financials)	432,723
	44,906	Betsson AB (Consumer Services)	1,505,494
	50,152	Bilia AB Class A (Retailing)	865,816
	15,225	BioGaia AB Class B (Pharmaceuticals, Biotechnology & Life Sciences)	404,690
	39,944	Clas Ohlson AB Class B (Retailing)	596,541
	8,200	D. Carnegie & Co. AB (Diversified Financials)*	—
	71,398	East Capital Explorer AB (Diversified Financials)	598,194
	43,013	Haldex AB (Capital Goods)	256,948
	24,344	Hexpol AB (Materials)	1,346,414
	51,433	Industrial & Financial Systems AB Class B (Software & Services)	875,593
	25,046	JM AB (Consumer Durables & Apparel)	514,957
	2,982	Lundbergforetagen AB Class B (Diversified Financials)	116,666
	23,479	Nordnet AB Class B (Diversified Financials)	75,729
	31,889	SAS AB (Transportation)*	68,111



Shares		Description	Value
	Common Stocks – (continued)
	Sweden – (continued)
	17,545	Swedish Orphan Biovitrum AB (Pharmaceuticals, Biotechnology & Life Sciences)*	$ 104,814
	42,311	Trelleborg AB Class B (Capital Goods)	542,944
	63,127	Wihlborgs Fastigheter AB (Real Estate)	1,011,163

			9,316,797

	Switzerland – 2.5%
	93,403	Ferrexpo PLC (Materials)	376,859
	2,263	Forbo Holding AG (Registered) (Consumer Durables & Apparel)	1,519,885
	114	Gurit Holding AG (Materials)	51,736
	2,972	Implenia AG (Registered) (Capital Goods)*	146,909
	5,689	Inficon Holding AG (Registered) (Technology Hardware & Equipment)	1,561,128
	2,140	Komax Holding AG (Registered) (Capital Goods)	196,060
	320	LEM Holding SA (Registered) (Technology Hardware & Equipment)	199,934
	44,384	OC Oerlikon Corp. AG (Registered) (Capital Goods)	544,960
	12,163	Schweizerische National-Versicherungs-Gesellschaft (Registered) Class V (Insurance)	598,148
	1,767	Siegfried Holding AG (Registered) (Pharmaceuticals, Biotechnology & Life Sciences)*	222,882
	49	Vetropack Holding AG (Materials)	99,610
	5,695	Vontobel Holding AG (Registered) (Diversified Financials)	183,356
	183	Walter Meier AG (Registered) (Capital Goods)	48,969
	10,848	Zehnder Group AG (Capital Goods)	512,708

			6,263,144

	United Kingdom – 20.5%
	73,972	Alent PLC (Materials)*	392,669
	550,224	Barratt Developments PLC (Consumer Durables & Apparel)*	1,898,280
	7,660	Bellway PLC (Consumer Durables & Apparel)	134,740
	148,927	Berendsen PLC (Commercial & Professional Services)	1,441,702
	25,490	Berkeley Group Holdings PLC (Consumer Durables & Apparel)*	739,144
	47,728	Betfair Group PLC (Consumer Services)	503,473



Shares		Description	Value
	Common Stocks – (continued)
	United Kingdom – (continued)
	87,948	Big Yellow Group PLC (REIT)	$ 516,096
	107,851	Bodycote PLC (Capital Goods)	789,880
	86,632	Cairn Energy PLC (Energy)*	393,719
	19,692	Chesnara PLC (Insurance)	67,519
	57,685	Close Brothers Group PLC (Diversified Financials)	906,809
	94,654	Computacenter PLC (Software & Services)	676,600
	28,593	Concentric AB (Capital Goods)	256,685
	893,445	Debenhams PLC (Retailing)	1,434,518
	60,062	Devro PLC (Food, Beverage & Tobacco)	324,609
	218,458	Diploma PLC (Technology Hardware & Equipment)	1,929,862
	206,610	easyJet PLC (Transportation)	3,048,798
	329,096	Elementis PLC (Materials)	1,101,801
	699,388	EnQuest PLC (Energy)*	1,432,741
	121,394	F&C Asset Management PLC (Diversified Financials)	203,120
	262,548	Firstgroup PLC (Transportation)	807,818
	19,273	Galliford Try PLC (Capital Goods)	251,439
	101,002	Gem Diamonds Ltd. (Materials)*	256,303
	6,236	Genus PLC (Pharmaceuticals, Biotechnology & Life Sciences)	140,420
	204,590	Grainger PLC (Real Estate)	404,776
	23,435	Greene King PLC (Consumer Services)	247,768
	743,739	Hansteen Holdings PLC (REIT)	992,594
	665,893	Home Retail Group PLC (Retailing)^(a)	1,266,760
	336,760	Homeserve PLC (Commercial & Professional Services)	1,237,986
	313,197	Intermediate Capital Group PLC (Diversified Financials)	1,755,549
	107,602	International Personal Finance PLC (Diversified Financials)	688,788
	69,431	Interserve PLC (Capital Goods)	488,489
	27,333	Keller Group PLC (Capital Goods)	319,773
	627,127	Ladbrokes PLC (Consumer Services)	2,111,536
	171,593	Laird PLC (Technology Hardware & Equipment)	607,901
	163,285	Lancashire Holdings Ltd. (Insurance)	2,124,125
	82,183	Londonmetric Property PLC (REIT)	143,983
	972,459	Man Group PLC (Diversified Financials)	1,364,791
	98,269	Micro Focus International PLC (Software & Services)	950,568
	195,917	Mondi PLC (Materials)	2,321,190
	181,431	Morgan Crucible Co. PLC (Capital Goods)	798,742
	22,329	Northgate PLC (Transportation)	112,704
	384,558	Pace PLC (Technology Hardware & Equipment)	1,376,565
	167,410	Paragon Group of Companies PLC (Banks)	745,643



Shares		Description	Value
	Common Stocks – (continued)
	United Kingdom – (continued)
	24,780	Primary Health Properties PLC (REIT)	$ 138,977
	180,200	QinetiQ Group PLC (Capital Goods)	537,275
	4,773	Renishaw PLC (Technology Hardware & Equipment)	141,483
	25,658	Rightmove PLC (Media)	681,619
	2,078	Rotork PLC (Capital Goods)	87,268
	23,351	Savills PLC (Real Estate)	183,322
	189,348	SIG PLC (Capital Goods)	396,407
	229,654	Soco International PLC (Energy)*	1,392,128
	918,846	Speedy Hire PLC (Capital Goods)	561,057
	81,109	Spirent Communications PLC (Technology Hardware & Equipment)	206,378
	84,151	ST Modwen Properties PLC (Real Estate)	315,986
	107,372	Synthomer PLC (Materials)	337,775
	68,636	Taylor Wimpey PLC (Consumer Durables & Apparel)	77,433
	57,256	Tetragon Financial Group Ltd. (Diversified Financials)	658,444
	352,727	TT electronics PLC (Technology Hardware & Equipment)	900,674
	73,318	Tullett Prebon PLC (Diversified Financials)	278,576
	73,972	Vesuvius PLC (Capital Goods)	424,511
	46,632	Victrex PLC (Materials)	1,132,330
	138,390	WH Smith PLC (Retailing)^(a)	1,461,692
	328,739	William Hill PLC (Consumer Services)	2,005,470
	53,405	WS Atkins PLC (Commercial & Professional Services)	702,318

			52,330,099

	TOTAL COMMON STOCKS		$240,109,998



	Preferred Stocks – 0.3%
	Germany – 0.3%
	6,799	Fuchs Petrolub AG Preference Shares (Materials)	$ 520,318
	4,648	Jungheinrich AG Preference Shares (Capital Goods)	214,558
	680	Sto AG Preference Shares (Materials)	108,442

	TOTAL PREFERRED STOCKS		$ 843,318



Shares	Description		Value
Warrants – 0.0%
France – 0.0%
56,200	UBISOFT Entertainment (Software & Services)	10/13	$ 8,241

Netherlands – 0.0%
34,444	Nieuwe Steen Investments NV (REIT)	04/13	—

TOTAL WARRANTS			$ 8,241

TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE			$ 240,961,557



Shares		Rate			Value
Securities Lending Reinvestment Vehicle^(c)(d)– 3.0%
Goldman Sachs Financial Square Money Market Fund – FST Shares
	7,596,499		0.115	%	$ 7,596,499

TOTAL INVESTMENTS – 97.4%					$ 248,558,056

OTHER ASSETS IN EXCESS OF LIABILITIES – 2.6%					6,532,103

NET ASSETS – 100.0%					$ 255,090,159



The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

*		Non-income producing security.

(a)		All or a portion of security is on loan.

(b)		Exempt from registration under Rule 144A of the Securities Act of 1933. Under procedures approved by the Board of Trustees, such securities have been determined to be liquid by the investment adviser and may be resold, normally to qualified institutional buyers in transactions exempt from registration. Total market value of Rule 144A securities amounts to $94,805, which represents approximately 0.0% of net assets as of January 31, 2013.

(c)		Variable rate security. Interest rate disclosed is that which is in effect at January 31, 2013.

(d)		Represents an affiliated issuer.



Investment Abbreviations:
REIT		— Real Estate Investment Trust
RSP		— Risparmio Shares

For information on the mutual funds, please call our toll-free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.goldmansachsfunds.com.

FUTURES CONTRACTS — At January 31, 2013, the Fund had the following futures contracts:

TAX INFORMATION — At January 31, 2013, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Investment Valuation — The Funds’ valuation policy is to value investments at fair value.

Investments and Fair Value Measurements — The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). Accounting principles generally accepted in the United States of America (“GAAP”) establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The levels used for classifying investments are not necessarily an indication of the risk associated with investing in these investments. The three levels of the fair value hierarchy are described below:

Level 1 — Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2 — Quoted prices in markets that are not active or financial instruments for which significant inputs are observable (including, but not limited to, quoted prices for similar investments, interest rates, foreign exchange rates, volatility and credit spreads), either directly or indirectly;

Level 3 — Prices or valuations that require significant unobservable inputs (including Goldman Sachs Asset Management, L.P. (“GSAM”) assumptions in determining fair value measurement).

The Trustees have adopted Valuation Procedures that govern the valuation of the portfolio investments held by the Funds, including investments for which market quotations are not readily available. The Trustees have delegated to GSAM day-to-day responsibility for implementing and maintaining internal controls and procedures related to the valuation of the Funds’ portfolio investment. To assess the continuing appropriateness of pricing sources and methodologies, GSAM regularly performs price verification procedures and issues challenges as necessary to third party pricing vendors or brokers, and any differences are reviewed in accordance with the Valuation Procedures.

A. Level 1 and Level 2 Fair Value Investments — The valuation techniques and significant inputs used in determining the fair values for investments classified as Level 1 and Level 2 are as follows:

Equity Securities — Equity securities and investment companies traded on a United States (“U.S.”) securities exchange or the NASDAQ system, or those located on certain foreign exchanges, including but not limited to the Americas, are valued daily at their last sale price or official closing price on the principal exchange or system on which they are traded. If no sale occurs, equity securities and exchange traded investment companies are valued at the last bid price for long positions and at the last ask price for short positions. Investments in investment companies (other than those that are exchange traded) are valued at the net asset value (“NAV”) on the valuation date. To the extent these investments are actively traded, they are classified as Level 1 of the fair value hierarchy.

Unlisted equity securities for which market quotations are available are valued at the last sale price on the valuation date, or if no sale occurs, at the last bid price. Securities traded on certain foreign securities exchanges are valued daily at fair value determined by an independent fair value service (if

available) under valuation procedures approved by the Trustees and consistent with applicable regulatory guidance. The independent fair value service takes into account multiple factors including, but not limited to, movements in the securities markets, certain depositary receipts, futures contracts and foreign currency exchange rates that have occurred subsequent to the close of the foreign securities exchange. Investments applying these valuation adjustments are classified as Level 2 of the fair value hierarchy.

Debt Securities — Debt securities for which market quotations are readily available are valued daily on the basis of quotations supplied by dealers or an independent pricing service approved by the Trustees. The pricing services may use valuation models or matrix pricing, which consider: (i) yield or price with respect to bonds that are considered comparable in characteristics such as rating, interest rate and maturity date or (ii) quotations from securities dealers to determine current value. Short-term debt obligations that mature in sixty days or less and that do not exhibit signs of credit deterioration are valued at amortized cost, which approximates fair value. With the exception of treasury securities, which are generally classified as Level 1, these investments are generally classified as Level 2 of the fair value hierarchy.

Derivative Contracts — A derivative is an instrument whose value is derived from underlying assets, indices, reference rates or a combination of these factors.

Exchange-traded derivatives, including futures contracts, typically fall within Level 1 of the fair value hierarchy. Over-the-counter (“OTC”) derivatives are valued using market transactions and other market evidence, including market-based inputs to models, calibration to market-clearing transactions, broker or dealer quotations, or other alternative pricing sources. Where models are used, the selection of a particular model to value an OTC derivative depends upon the contractual terms of, and specific risks inherent in, the instrument, as well as the availability of pricing information in the market. Valuation models require a variety of inputs, including contractual terms, market prices, yield curves, credit curves, measures of volatility, voluntary and involuntary prepayment rates, loss severity rates and correlations of such inputs. For OTC derivatives that trade in liquid markets, model inputs can generally be verified and model selection does not involve significant management judgment. OTC derivatives are classified within Level 2 of the fair value hierarchy when significant inputs are corroborated by market evidence.

i Futures Contracts — Futures contracts are contracts to buy or sell a standardized quantity of a specified commodity or security and are valued based on exchanged settlement prices or independent market quotes. Futures contracts are valued at the last settlement price, or in the absence of a sale, the last bid price for long positions and at the last ask price for short positions, at the end of each day on the board of trade or exchange upon which they are traded. Upon entering into a futures contract, a Fund deposits cash or securities in an account on behalf of the broker in an amount sufficient to meet the initial margin requirement. Subsequent payments are made or received by the Fund equal to the daily change in the contract value and are recorded as variation margin receivable or payable with a corresponding offset to unrealized gains or losses.

B. Level 3 Fair Value Investments — To the extent that the aforementioned significant inputs are unobservable, or if quotations are not readily available, or if GSAM believes that such quotations do not accurately reflect fair value, the fair value of the Funds’ investments may be determined under valuation procedures approved by the Trustees. GSAM, consistent with its procedures and applicable regulatory guidance, may make an adjustment to the most recent valuation prices of either domestic or foreign securities in light of significant events to reflect what it believes to be the fair value of the securities at the time of determining a Fund’s NAV. Significant events which could affect a large number of securities in a particular market may include, but are not limited to: significant fluctuations in U.S. or foreign markets; market dislocations; market disruptions; or unscheduled market closings. Significant events which could also affect a single issuer may include, but are not limited to: corporate actions such as reorganizations, mergers and buy-outs; ratings downgrades; and bankruptcies.

C. Fair Value Hierarchy — The following is a summary of the Funds’ investments and derivatives classified in the fair value hierarchy as of January 31, 2013:

For further information regarding security characteristics, see Schedule of Investments.

Securities Lending — Pursuant to exemptive relief granted by the Securities and Exchange Commission (“SEC”) and the terms and conditions contained therein, the Funds may lend their securities through a securities lending agent, Goldman Sachs Agency Lending (“GSAL”), a wholly-owned subsidiary of Goldman Sachs, to certain qualified borrowers including Goldman Sachs and affiliates. In accordance with the Funds’ securities lending procedures, the Funds receive cash collateral at least equal to the market value of the securities on loan. The market value of the loaned securities is determined at the close of business of the Funds at their last sale price or official closing price on the principal exchange or system on which they are traded, and any additional required collateral is delivered to the Funds on the next business day. As with other extensions of credit, the Funds may experience a delay in the recovery of their securities or incur a loss should the borrower of the securities breach its agreement with the Funds or become insolvent at a time when the collateral is insufficient to cover the cost of repurchasing securities on loan.

The Funds invest the cash collateral received in connection with securities lending transactions in the Goldman Sachs Financial Square Money Market Fund (“Money Market Fund”), a separate series of the Trust. The Money Market Fund is registered under the Act as an open end investment company, is subject to Rule 2a-7 under the Act and is managed by GSAM, for which GSAM may receive an investment advisory fee of up to 0.205% on an annualized basis of the average daily net assets of the Money Market Fund.

Both the Funds and GSAL received compensation relating to the lending of the Funds’ securities.

Foreign Custody Risk — A Fund that invests in foreign securities may hold such securities and foreign currency with foreign banks, agents, and securities depositories appointed by the Fund’s custodian (each a “Foreign Custodian”). In some countries, Foreign Custodians may be subject to little or no regulatory oversight or independent evaluation of their operations. Further, the laws of certain countries may place limitations on a Fund’s ability to recover its assets if a Foreign Custodian enters into bankruptcy. Investments in emerging markets may be subject to greater custody risks than investments in more developed markets. Custody services in emerging market countries are often undeveloped and may be less regulated than in more developed countries, and thus may not afford the same level of investor protection as would apply in developed countries.

Shareholder Concentration Risk — Certain funds, accounts, individuals or Goldman Sachs affiliates may from time to time own (beneficially or of record) or control a significant percentage of the Funds’ shares. Redemptions by these entities of their holdings in the Funds may impact the Funds’ liquidity and NAV. These redemptions may also force the Funds to sell securities.

Liquidity Risk — The Funds may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that a Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, a Fund may be forced to sell investments at an unfavorable time and/or under unfavorable conditions.

Market and Credit Risks — In the normal course of business, the Funds trade financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the market (market risk). Additionally, the Funds may also be exposed to credit risk in the event that an issuer fails to perform or that an institution or entity with which the Funds have unsettled or open transactions defaults.

Investing in foreign markets may involve special risks and considerations not typically associated with investing in the U.S. These risks include revaluation of currencies, high rates of inflation, repatriation restrictions on income and capital, and adverse political and economic developments. Moreover, securities issued in these markets may be less liquid, be subject to government ownership controls, have delayed settlements and their prices may be more volatile than those of comparable securities in the U.S.

(a) The Registrant’s President/Principal Executive Officer and Principal Financial Officer concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) were effective as of a date within 90 days prior to the filing date of this report (the “Evaluation Date”), based on their evaluation of the effectiveness of the Registrant’s disclosure controls and procedures as of the Evaluation Date.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

(a) Separate certifications for the President/Principal Executive Officer and the Principal Financial Officer of the Registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)) are filed herewith.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


		71 South Wacker Drive, Chicago, Illinois		60606
		(Address of principal executive offices)		(Zip code)



Tax cost	$	535,719,988

Gross unrealized gain		87,605,342
Gross unrealized loss		(11,682,195	)

Net unrealized security gain	$	75,923,147


Type	Number of Contracts Long (Short)	Expiration Date	Current Value		Unrealized Gain (Loss)

EURO STOXX 50 Index	188	March 2013	$	6,920,272	$	77,808
FTSE 100 Index	33	March 2013		3,276,359		144,881
Hang Seng Index	3	February 2013		459,860		1,498
MSCI Singapore Index	4	February 2013		238,129		1,016
SPI 200 Index	13	March 2013		1,642,019		64,650
TSE TOPIX Index	40	March 2013		4,100,826		329,767

TOTAL					$	619,620



Tax cost	$	878,145,439

Gross unrealized gain		104,557,026
Gross unrealized loss		(25,280,522	)

Net unrealized security gain	$	79,276,504


Type	Number of Contracts Long (Short)	Expiration Date	Current Value		Unrealized Gain (Loss)

EURO STOXX 50 Index	124	March 2013	$	4,564,435	$	15,283
FTSE 100 Index	23	March 2013		2,283,523		59,064
Hang Seng Index	1	February 2013		153,287		500
MSCI Singapore Index	4	February 2013		238,129		1,016
SPI 200 Index	8	March 2013		1,010,473		34,043
TSE TOPIX Index	29	March 2013		2,973,099		275,336

TOTAL					$	385,242



Tax cost	$	215,382,579

Gross unrealized gain		43,067,616
Gross unrealized loss		(9,892,139	)

Net unrealized security gain	$	33,175,477


STRUCTURED EMERGING MARKETS EQUITY FUND
Investment Type	Level 1		Level 2			Level 3
Assets
Common Stock and/or Other Equity Investments
North and South America	$	58,051,786	$	52,331,049	^(a)	$	—
Other		35,331,120		462,427,455	^(a)		—
Securities Lending Reinvestment Vehicle		3,501,725		—			—
Total	$	96,884,631	$	514,758,504		$	—

STRUCTURED INTERNATIONAL EQUITY FUND
Investment Type	Level 1		Level 2			Level 3
Assets
Common Stock and/or Other Equity Investments
North and South America	$	—	$	3,761,530	^(a)	$	—
Other		36,536,801		901,676,493	^(a)		—
Securities Lending Reinvestment Vehicle		15,447,119		—			—
Total	$	51,983,920	$	905,438,023		$	—

Derivative Type
Assets^(b)
Futures Contracts	$	619,620	$	—		$	—

STRUCTURED INTERNATIONAL SMALL CAP FUND
Investment Type	Level 1		Level 2			Level 3
Assets
Common Stock and/or Other Equity Investments
North and South America	$	—	$	1,029,043	^(a)	$	—
Other		—		239,848,807	^(a)		83,707
Securities Lending Reinvestment Vehicle		7,596,499		—			—
Total	$	7,596,499	$	240,877,850		$	83,707

Derivative Type
Assets^(b)
Futures Contracts	$	385,242	$	—		$	—


(Registrant) Goldman Sachs Trust

By (Signature and Title)*		/s/ James A. McNamara
		James A. McNamara, President/Principal Executive Officer



By (Signature and Title)*		/s/ George F. Travers
		George F. Travers, Principal Financial Officer